Cryptocurrency exchange Coinbase (COIN) could be one of the biggest corporate beneficiaries of the United States’ first comprehensive crypto legislation, the GENIUS Act, which was signed into law in July 2025 and established a federal framework for stablecoin issuance and oversight.
Coinbase Stablecoin Revenue Jumps 48%In 2025, Coinbase generated an estimated $1.35 billion in revenue tied to stablecoins, a 48% increase from $911 million in 2024. That segment represented 19% of the company’s total annual revenue, underscoring how important stablecoins have become to the exchange’s overall business model.
Unlike trading fees, which tend to rise and fall sharply alongside crypto market volatility, stablecoin-related income is derived from interest earned on reserves backing Circle’s USDC.
The importance of this revenue stream became particularly evident in late 2025. During a period when Bitcoin (BTC) and broader crypto prices declined sharply, and Coinbase’s fourth-quarter revenue dropped 20%, income generated from stablecoins remained comparatively stable.
GENIUS Act Expected To Accelerate USDC GrowthThe GENIUS Act is central to that outlook. By providing a national regulatory structure for stablecoin issuers, the legislation could remove barriers that have limited the use of USDC in areas such as cross-border payments and merchant settlements.
An increase in USDC circulation would require additional reserves to back those tokens, which in turn would generate more interest income from the underlying Treasury holdings.
Yet, reaching the upper end of that projection depends on whether Coinbase can continue offering rewards to customers who hold USDC. If customer reward mechanisms remain in place, analysts believe USDC adoption could accelerate more rapidly.
At the time of writing, the exchange’s stock, trading under the ticker name COIN, surged towards $185 during Wednesday’s trading session, marking a 22% increase in the 24-hour time frame.
Featured image from OpenArt, chart from TradingView.com
