USDC transfers to/from Coinbase

General
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Algorand Foundation please please please work on enabling USDCa transfers to/from Coinbase. It would be a major milestone achievement in addition to what DEV team is doing.

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I agree. This is extremely important for regular consumers to be able to transfer USDC to their wallets.

One idea: Start with Kraken. They might be more open and once they support USDCa, it is more likely that coinbase does it too.

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My comment under Biran Armstrong’s announcement about supporting USDC on base.

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This is very interesting considering USDC is issued by Circle and Coinbase. So, they would presumably want to support the asset on Algorand. I wonder if the USDC on Algorand is real USDC or just collateralized USDC issued by a third party. For example, how do we know the USDC on Algorand was issued by Circle and Coinbase?

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Because Circle says it here Algorand USDC | Use USDC-ASA on the Algorand Blockchain

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IMG_2214
IMG_22141170Ă—2532 289 KB

This is currently supported list of USDC networks on Coinbase. I can’t think of any reason why Algorand should not be in that list, technically Algo already integrated. It will give a boost to other ASAs as well from Algorand ecosystem.

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Oh ok. Nice. This is helpful. Thanks!

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For sure. Right now, I think Coinbase still only supports ERC20 and SPL tokens for layer-2s. At least, last time I looked into it.

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I just paid for coffee in London with my Coinbase Visa debit card using USDC, my only wish it was USDCa. Maybe If Pera Wallet could bring Debit cards to Algorand. I would use it to pay for everything, groceries and etc. even if they charge swap fees to go from Algo → USDCa via Tinyman. This is going to be real adoption and probably the first use case when distributed blockchain is used for payments without role of intermediary like Coinbase.

2 Likes
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That’s a really interesting idea.

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Yah it is crazy Coinbase does not
Support USDC on all the chain it is on to bring back to your account on Coinbase I am a big believer in stable coins as it like having the best Version of cash :dollar: if they don’t thank about this soon there will be a better option like xUSD from xBacked :slightly_smiling_face::grin: