by Coinstrooper Crypto Articles
Quick Take
  • Bloomberg Intelligence forecasts that Coinbase’s stablecoin revenue could jump sevenfold from its current $1.35 billion annual run rate.
  • Analysts point to a structural shift where stablecoins move beyond crypto trading collateral to become a primary rail for mainstream global payments.
  • Coinbase generated approximately $1.35 billion in stablecoin revenue last year, accounting for 19% of its total income.
  • Bloomberg Intelligence projects a potential 7x surge in this figure as regulatory frameworks drive payment adoption.

What Happened

Key Takeaways

Coinbase generated approximately $1.35 billion in stablecoin revenue last year, accounting for 19% of its total income.

Bloomberg Intelligence projects a potential 7x surge in this figure as regulatory frameworks drive payment adoption.

Market Context

Analysts point to a structural shift where stablecoins move beyond crypto trading collateral to become a primary rail for mainstream global payments.

The expansion hinges on the codified GENIUS Act, merchant integration via Stripe, and volume growth on the Base network.

Bloomberg Intelligence analysts, including Paul Gulberg, argue that the market is underestimating the utility phase of the stablecoin lifecycle.

This thesis aligns with broader market data showing stablecoin transaction volumes hitting $33 trillion in 2025.

With USDC accounting for $18.3 trillion of that flow, the asset has already begun to decouple from pure crypto trading volumes.

The regulatory landscape shifted dramatically with the signing of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in July 2025.

This clarity allows Coinbase to market USDC settlements to Fortune 500 companies without the overhang of legal ambiguity that plagued the sector in previous years.

Operational catalysts are already live, fueling the Bloomberg projection. The integration of USDC into Stripe’s global payment rails has reopened crypto acceptance for millions of merchants, creating a direct funnel for transaction volume.

Why It Matters

Bloomberg Intelligence forecasts that Coinbase’s stablecoin revenue could jump sevenfold from its current $1.35 billion annual run rate.

While Coinbase reported $1.35 billion in stablecoin revenue for 2025, roughly 19% of its total top line, Bloomberg models suggest this figure is merely a baseline.

The forecast arrives despite Coinbase noting a net loss of $667 million in Q4 2025. The exchange’s revenue share agreement with Circle, the issuer of USDC, remains a bright spot, generating $364 million in the fourth quarter alone.

Details

Why Bloomberg Sees a Sevenfold Surge in Coinbase Stablecoin Revenue

Bloomberg’s 7x multiple assumes that as interest rates stabilize, the sheer velocity of payment transactions will eclipse interest income as the primary revenue driver.

The scale is big enough that the traditional finance sector can no longer ignore the fee generation potential.

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How the GENIUS Act Is Accelerating Stablecoin Mainstream Adoption

By creating a federal regime for payment stablecoins, the legislation provided the legal certainty required for large-scale institutional participation.

The Act explicitly bars issuers like Circle from paying interest to holders, a move backed by the banking lobby to protect traditional deposits.

While the regulatory framework for digital assets remains complex, the GENIUS Act has effectively greenlit stablecoins for commercial usage.

Stripe Integration and Base Network Expansion Drive Payment Ambitions

Simultaneously, Coinbase’s own Layer-2 blockchain, the Base network, is lowering the barrier to entry for micro-transactions.