base

Coinbase Integrates Ethereum Virtual Machine and USDC for Enhanced Decentralized Application Usage

The Big Whale

10 May 2024 — 1 min read

Coinbase is preparing for a future where billions of customers can safely use decentralized applications on millions of blockchains. They are integrating the Ethereum Virtual Machine (EVM) and Circle's USD Coin (USDC) into their system. Coinbase's head of tokenization, Anthony Bassili, spoke at TokenizeThis 2024 in Miami and explained that Coinbase's Ethereum layer-2 Base blockchain will save time on Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. They will achieve this through identity attestation using the Ethereum Attestation service and Coinbase verification. Already, over 300,000 wallets have been attested. Bassili also mentioned that Coinbase expects this process to evolve into a KYC reliance model, making it easier for customers to complete the KYC process. Additionally, Coinbase's Base will provide Web3 access to customers with verified identities by leveraging the interoperability of EVM networks. The ecosystem will be supported by USDC. While the goal of trading assets for assets without involving dollars is still a while away, Bassili believes that USDC is a first step towards developing that market structure.

Sources :

- CoinTelegraph

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TBW - France pays millions to get rid of its surplus electricity

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TBW - Ethereum: what's the problem?

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