Coinbase's Base L2 Expands with New Integrations
Coinbase's Layer-2 network, Base, is experiencing significant ecosystem growth with the launch of Agentic Wallets and the enablement of payments by Stripe. A community summary noted that Base is dominating L2 revenue and user acquisition funnels. This growth is supported by Coinbase's strong 2025 financial results, which saw record trading volumes and market share growth.
- Stripe's payment integration utilizes the x402 protocol, an open standard for machine-to-machine transactions, allowing AI agents to autonomously pay for services like API calls with USDC. Base was selected for its low fees and rapid settlement times, which are essential for the high-frequency, small-value payments typical of automated systems. - The new Agentic Wallets are non-custodial and secured in Trusted Execution Environments (TEEs), which isolate private keys from the AI's language model prompts. The infrastructure also features gasless trading on Base, preventing agents from having their operations halted due to insufficient network fees. - A key driver for Base's user acquisition is its direct integration with Coinbase's main platform, which provides a funnel of over 9.3 million monthly active trading users. This gives Base a significant distribution advantage over competing L2s that must rely on third-party integrations or incentives to attract users. - By the end of 2025, Base was generating 62% of all L2 on-chain revenue, totaling $75.4 million for the year. This is a substantial increase from its 5% market share in December 2023. - In addition to revenue, Base leads all Layer-2 networks in DeFi Total Value Locked (TVL) with $4.63 billion, representing 46% of the entire L2 market after surpassing the previous leader, Arbitrum One, in January 2025
