19.06.2025 15:56

Coinbase Global, Inc. ($COIN) experienced a significant stock price surge of 16.32%, fueled by the Senate's passage of the GENIUS Act. This landmark legislation provides crucial support for stablecoin regulations, a development that directly benefits Coinbase and its partners.

The positive impact extended beyond Coinbase itself. Circle, a key partner and issuer of the USDC stablecoin, saw its stock value skyrocket by a remarkable 33%, reflecting the market's confidence in the bill's implications for the industry. This substantial increase underscores the intertwined success of these companies within the evolving cryptocurrency landscape.

Capitalizing on this momentum and the regulatory clarity provided by the GENIUS Act, Coinbase announced plans to launch a new stablecoin-based merchant payment product. This innovative offering aims to challenge established payment networks, potentially disrupting the traditional financial system and offering businesses a faster, more cost-effective alternative.

Further strengthening its position in the market, Coinbase also unveiled a new cryptocurrency credit card, backed by American Express, exclusively for its subscribers. This strategic move expands Coinbase's service offerings, catering to a broader customer base and diversifying its revenue streams beyond trading fees. The company's subscription revenue continues to grow significantly, suggesting a robust future for this aspect of their business. The information provided is based on sources found on the internet.