Coinbase CEO: The platform processes nearly $1 trillion in stablecoin flows annually.

CoinFeed reported on June 12th, citing The Defiant, that Coinbase CEO Brian Armstrong disclosed three key figures: Coinbase processes $1 trillion in stablecoin flows annually, holds $20 billion in USDC on its platform, and processed over 160 million proxy payments through the x402 proxy payment protocol in the past year. The $1 trillion annual stablecoin flow figure refers to transfers made through Coinbase's payment infrastructure, which differs from the exchange's trading volume. Furthermore, Alec Lovett, Head of Infrastructure Products at Coinbase, revealed that the Base blockchain has processed $19 trillion in stablecoin transactions so far this year.