Coinbase disclosed that the x402 payments platform processed more than $50 million in stablecoin transactions over the past 30 days, signaling rapid uptake of the open payment standard. The company describes x402 as an open protocol that embeds stablecoin payment requests into ordinary web transactions, enabling faster, cheaper, and globally accessible payments for websites, apps, and AI-enabled workflows.
Coinbase positions its platform as a comprehensive crypto-as-a-service offering for enterprises, aimed at banks, fintechs, and startups that want to add crypto features without building them from scratch. Alec Lovett, Coinbase’s Head of Infrastructure Businesses, noted that the approach is already powering crypto products for startups, scaling fintechs, and large banks such as JPMorgan and PNC. The firm emphasizes stablecoins as a core enabler of faster, cheaper, and globally accessible payments, used for vendor payments, payroll, and treasury management. The broader strategy is to attach stablecoin payments to web experiences, expanding the practical use of digital assets across commerce.
In a related development, Coinbase announced cross-chain enhancements by enabling Solana deposits and withdrawals on the Base network. This move lets SOL function as an ERC-20 compatible asset within Ethereum-based applications, reducing steps and risk for users bridging Solana and Ethereum ecosystems. Overall, the combination of x402 adoption and Solana-Base integration underscores Coinbase’s enterprise-focused strategy to widen access to crypto-enabled solutions across custody, payments, and trading services.
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