Coinbase Surges 8.65% on New Stablecoin Partnership

Coinbase Global Inc's stock price surged by 8.65% to $171 on Thursday, as the company joined forces with Visa, Mastercard, BlackRock, and Ripple in a consortium backing a new dollar-pegged stablecoin called Open USD.

The partnership positions Coinbase at the forefront of stablecoin-based payments infrastructure, which could enhance transaction volumes and solidify its leadership in stablecoin ecosystems.

Additionally, Coinbase's SEC-registered AI investment advisor, Coinbase Advisor, is set to launch on June 2026, introducing a regulated revenue stream and showcasing the company's diversification beyond traditional crypto trading.