American cryptocurrency exchange platform Coinbase Global (NASDAQ:COIN) is shifting focus from the current crypto contagion to the regulatory requirement for stablecoins. Coinbase supports USD Coin (USDC), and hopes to make it America’s “de facto central bank digital currency,” a WSJ report said. The exchange earns revenue from the trading fees of transactions carried out on its platform. Hence, the regulation of USDC will boost its trading and, indirectly, Coinbase’s revenue stream. Last week, the company announced that it would not charge a fee for converting customers’ holdings of another stablecoin, Tether, to USDC.
