Coinbase is packaging payments APIs, stablecoin settlement, Base infrastructure, x402 agent payments, and custody into one enterprise stack instead of making companies stitch together providers. The pitch leans on scale: Coinbase says it processes nearly $1T of stablecoin movement annually, holds nearly $20B in USDC, and Base has already handled $19T of stablecoin volume this year, almost triple 2025’s $6.6T. x402 is the AI-native hook, with 160M+ agentic payments over the last year and native integration into Coinbase Payments.

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