Coinbase wants to challenge Tether's dominance and eventually make USDC the "number one dollar stablecoin"

Odaily reported that Coinbase CEO Brian Armstrong said during the Q4 earnings call that the company will launch a new round of battle in the stablecoin sector, challenging Tether's position as the industry's leading stablecoin issuer, with the ultimate goal of making Circle's USDC the "number one US dollar stablecoin" globally. Armstrong described it as a "stretch goal", representing an ambitious but potentially achievable feat that will push Coinbase out of its comfort zone. Coinbase CFO Alesia Haas supplemented Armstrong's call, saying "I think it's noteworthy that we aspire to achieve this goal in the next few years." However, it remains unclear how comprehensive stablecoin legislation will ultimately impact USDC, USDT or any stablecoin, as lawmakers may eventually amend it before it is passed by both houses of the US Congress and signed into law by Trump. Bitwise senior investment strategist Juan Leon said: "If stablecoin regulation passes in the US, I do think it will help USDC gain market share. But is that enough to surpass USDT?" Leon said USDC needs to become the predominant stablecoin used in developed markets to have a chance of surpassing USDT, but added that USDC is unlikely to dethrone USDT's dominance in emerging markets.