In a bold move that could reshape the U.S. crypto landscape, Coinbase has unveiled a series of major updates that signal its ambition to become the dominant compliant crypto ecosystem—effectively positioning itself as the "American Binance." On June 13, 2025, the exchange announced key integrations and product launches, including the integration of Base’s decentralized exchange (DEX) into its main app, a groundbreaking partnership with Shopify for USDC payments, and the launch of 24/7 regulated perpetual futures contracts in the U.S.
These developments mark a pivotal moment in Coinbase’s evolution from a simple on-ramp for crypto to a full-stack financial platform bridging centralized finance (CeFi), decentralized finance (DeFi), real-world commerce, and advanced trading.
Base Chain: The Foundation of Coinbase’s Ecosystem Expansion
Base, Coinbase’s Layer2 blockchain built on Ethereum, has rapidly emerged as one of the most vibrant public chains since its launch. In under two years, it has attracted over 535 protocols, 1.23 million active addresses, $5.1 billion in DeFi total value locked (TVL), and $4.1 billion in stablecoin deposits. Its user operations per second (UOPS) outpace most other Layer2 solutions, and it ranks among the top five blockchains across key metrics like protocol count, revenue, and active users.
What sets Base apart is its focus on sustainable developer growth rather than speculative token launches. While it may not produce as many viral “meme coins” as other chains, it offers developers consistent feedback loops and strong infrastructure support—making it a favorite among builders exploring use cases in decentralized identity (DID), creator economies, social finance, and AI-integrated dApps.
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The integration of Base’s DEX into Coinbase’s primary application is a game-changer. With over 100 million registered users and 8 million monthly active traders, Coinbase brings unprecedented visibility and liquidity to Base-based tokens. This move effectively opens a compliant gateway between traditional finance and DeFi—giving Base-native projects access to institutional capital and mainstream adoption.
One immediate beneficiary was Aerodrome, Base’s leading DEX. Following the announcement, its native token $AERO surged nearly 30% within 24 hours before settling at $0.62. The integration allows users to trade directly through Coinbase’s app without leaving the platform—blending the ease of CeFi with the openness of DeFi.
Unlocking Real-World Stablecoin Adoption Through Strategic Partnerships
Shopify Integration: Bridging E-Commerce and Crypto Payments
Coinbase’s partnership with Shopify represents one of the most significant steps toward mainstream stablecoin adoption. Starting June 13, merchants using Shopify Payments and Shop Pay can now accept USDC payments via the Base network across 34 countries.
This collaboration introduces USDC to Shopify’s vast merchant base—over one million stores globally. Merchants can choose to receive payments in either USDC or their local fiat currency, with automatic settlement into bank accounts. The integration is further enhanced by Stripe’s involvement, ensuring seamless authorization, refund processing, and multi-currency settlement—all without requiring technical knowledge of blockchain.
For context, Shopify’s gross merchandise volume (GMV) reached $292.28 billion in 2024, up from $235.91 billion in 2023. In Q1 2025 alone, GMV hit $74.75 billion—a 23% year-over-year increase. With strong adoption in North America and Europe—regions where crypto regulation is more mature—this partnership could accelerate USDC’s utility in everyday transactions.
Additionally, Coinbase and Shopify are co-developing a Commercial Payment Protocol on Base, leveraging smart contract escrow systems to streamline crypto payments in e-commerce. Future API access will allow developers to embed wallet functionality directly into checkout flows using simple digital signatures—removing friction for both consumers and merchants.
American Express Partnership: Bringing Crypto Rewards to Physical Spending
Coinbase also announced a landmark collaboration with American Express to launch the Coinbase One Card, the first crypto rewards credit card issued by Amex. Available exclusively to Coinbase One subscribers, the card offers up to 4% Bitcoin cashback on purchases—with higher rewards tied to users’ crypto holdings on the platform.
It includes a $500 monthly spending limit with zero transaction fees and aims to incentivize long-term holding while promoting daily crypto usage. While some critics, like financial YouTuber Graham Stephan, have questioned the card’s break-even threshold (requiring ~$10,250 in assets for optimal returns), it still represents a major step in merging traditional consumer finance with crypto-native incentives.
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Reopening Derivatives Trading for U.S. Users
After a prolonged absence due to regulatory scrutiny, regulated derivatives trading is making a comeback in the U.S.—led by Coinbase.
In response to declining revenues in its spot trading segment, Coinbase has aggressively expanded into derivatives—a higher-margin and more stable revenue stream. On May 9, 2025, it launched 24/7 Bitcoin and Ethereum futures trading through Coinbase Derivatives, its CFTC-regulated subsidiary formerly known as FairX.
Building on this foundation, Coinbase completed the acquisition of Deribit, one of the world’s largest crypto options exchanges. Deribit dominates global BTC and ETH options trading—accounting for approximately 80% of open interest—with daily volumes consistently exceeding $2 billion. Notably, 80–90% of Deribit’s users are institutional investors, drawn to its deep liquidity and sophisticated trading tools.
By combining Deribit’s institutional expertise with its own regulatory compliance framework, Coinbase is uniquely positioned to capture market share from offshore giants like Binance and OKX—especially in the U.S., where few compliant alternatives exist.
Currently, U.S. retail traders have limited access to regulated perpetual contracts outside of CME Group’s institutional-grade offerings. Platforms like Hyperliquid have gained traction by operating in regulatory gray areas—but Coinbase’s new offering provides a fully compliant alternative with 24/7 availability.
This positions Coinbase to dominate what many see as the next frontier of American crypto adoption: regulated, accessible, and liquid derivatives markets.
Frequently Asked Questions (FAQ)
Q: Is Coinbase now offering DeFi trading directly in its app?
A: Yes. Coinbase has integrated Aerodrome, Base’s leading DEX, into its main application. Users can now trade DeFi tokens seamlessly within the Coinbase interface—blending CeFi convenience with DeFi access.
Q: Can I use USDC to pay on Shopify?
A: Yes. As of June 13, 2025, Shopify merchants in 34 countries can accept USDC payments via Base. Consumers can pay using USDC through Shop Pay, while merchants can opt to receive funds in either USDC or local fiat currency.
Q: Is the Coinbase One Card available to all users?
A: No. The Coinbase One Card is exclusive to subscribers of Coinbase One, the company’s premium membership tier that includes zero fees on trades up to $50,000 per month.
Q: Are Coinbase’s new perpetual contracts available 24/7?
A: Yes. Unlike traditional futures markets, Coinbase’s new CFTC-compliant perpetual futures contracts operate around the clock—matching the always-on nature of cryptocurrency markets.
Q: How does Coinbase plan to compete with Binance in derivatives?
A: By leveraging its U.S. regulatory approval, acquiring Deribit’s institutional liquidity, and integrating everything into a single compliant ecosystem—Coinbase offers a unique value proposition that Binance cannot match in the American market.
Q: Will this make USDC surpass USDT?
A: While USDC still trails USDT in total supply and market share (~1/3 the size), increased adoption through Shopify, Coinbase’s ecosystem expansion, and Circle’s successful stock market debut suggest strong growth momentum for USDC.
Coinbase’s coordinated push into DeFi integration, real-world payments, and regulated derivatives marks a strategic inflection point. With over $328 billion in customer assets and growing institutional traction—now amplified by Base’s developer momentum—it is no longer just an exchange. It's building the blueprint for a fully integrated, compliant crypto economy.
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