Coinbase Stablecoin Revenue Could Increase 7x Under GENIUS Act, Bloomberg Analysts Say
Cryptocurrency exchange Coinbase (COIN) could be one of the main corporate beneficiaries of America’s first comprehensive crypto law, the GENIUS Act, which was signed into law in July 2025 and established a government framework for stablecoin issuance and oversight.
Coinbase Stablecoin Revenue Up 48%
According to to Bloomberg analysts Paul Gulberg and Samuel Radowitz, the new framework could significantly strengthen Coinbase’s fast-growing stablecoin business, especially if the adoption of dollar-backed tokens expands to standard payments.
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By 2025, Coinbase has generated an estimated $1.35 billion in revenue tied to stablecoins, which is a 48% increase from $911 million in 2024. That category represents 19% of the company’s total annual revenue, underscoring how important stablecoins have been to the exchange’s overall business model.
Unlike trading costs, which tend to rise and fall significantly in line with the volatility of the crypto market, the income associated with the stablecoin is derived from the profits earned on Circle’s USDC-backed reserves.
Those palaces are heavily invested in them US Treasuries and other low-risk, yield-producing metals. Coinbase receives a significant portion of that interest income, which makes the business predictable and often higher than sales-based income.
The importance of this revenue stream became particularly evident towards the end of 2025. During a time when Bitcoin (BTC) and broader crypto prices fell sharply, and Coinbase’s fourth-quarter revenue fell 20%, stablecoin earnings remained relatively stable.
Paul Gulberg and Samuel Radowitz argue that this consensus could be even more meaningful if the clarification of rules is accelerated. Acceptance of USDC.
GENIUS Act Expected to Accelerate USDC Growth
The GENIUS Law is the foundation of that idea. By providing a national regulatory framework for stablecoin issuers, the law could remove barriers that have limited the use of USDC in areas such as cross-border payments and merchant settlements.
If businesses and financial institutions take stablecoins with the scope of real-world transactions, the total supply of USDC can grow significantly.
An increase in USDC circulation will require additional reserves to replace those tokens, which will result in greater interest income on the Treasury’s bottom line.
Because Coinbase shares in that yield, larger acquisitions translate directly into higher revenue. Bloomberg analysts estimate that under favorable conditions, Coinbase’s Income related to USDC it can grow two to seven times its current rate.
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However, reaching the end of that vision depends on whether Coinbase can continue to offer rewards to customers who hold USDC. If customer reward mechanisms are still in place, analysts believe that adoption of USDC could accelerate very quickly.
However, whether those programs are limited or reduced in ongoing discussions in CLARITY Actthe clear regulatory environment created by the GENIUS Act is still expected to support the rational growth of stablecoin usage.
At the time of writing, the exchange’s stock, which trades under the ticker name COIN, rose to $185 during Wednesday’s trading session, marking a 22% increase in a 24-hour period.
Featured image from OpenArt, chart from TradingView.com
