• Coinbase has opted to move customer and corporate USDC balances on-chain. 
• It will save the firm on settlement speed and costs, but decentralization concerns persist.

Coinbase is shifting towards an on-chain financial entity after stating it will move customer and corporate USD Coin [USDC] balances on-chain to Base.

Coinbase’s vice president, Max Branzburg, announced the development on X (formerly Twitter), citing speed and cost as reasons behind the move.