Coinbase Deep Integration + JPMorgan Chase Pilot, Which Projects Are Worth Paying Attention to?

Coinbase Deep Integration + JPMorgan Chase Pilot, Which Projects Are Worth Paying Attention to?
Odaily
Odaily
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Original source: Bitpush

As an Ethereum Layer 2 chain fully supported by Coinbase, the ecological popularity of Base Chain is quietly climbing. From Coinbase's own strategic integration of Base, to testing the waters of traditional financial institutions such as JPMorgan Chase, to the continuous expansion of real-world payment scenarios, the Base chain is moving from technical infrastructure to a wider range of practical applications. This article will briefly analyze the recent important progress of the Base chain and sort out the projects with value in the current ecosystem.

Coinbase's Platform Integration: Driving the mainstreaming of on-chain assets

Coinbase has recently continued to push the Base Chain into its core product logic. According to Jesse, the head of Base Chain, in the future, users will be able to interact with Base Chain projects directly using their account balances in the Coinbase app, without the need for complex on-chain operations. This integration strategy has led to two significant changes:

  • Lower user barriers: A seamless transaction interface similar to a centralized experience makes it easier for ordinary users to access decentralized applications.

  • Potentially high liquidity: Once supported, the Base Chain project can quickly reach tens of millions of Coinbase users, providing an important starting ground for early adoption.

In addition, Max Branzburg, head of product at Coinbase, has publicly stated that the company is planning to integrate tens of thousands of on-chain assets into the main Coinbase application to build a more complete closed loop of on-chain asset transactions.

Breakthrough in the real world: Shopify opens up USDC payments

In June 2025, Shopify, an e-commerce platform, announced that it would partner with Coinbase and Stripe to allow merchants to accept USDC payments on the Base chain, reaching consumers in more than 30 countries around the world. This is the first time that Base Chain has entered a mainstream payment system on a large scale, and it means that its potential influence is expanding from crypto-native users to the broader internet economy.

Financial giants intervene: JPMorgan Chase pilots the issuance of "compliant stablecoins"

What deserves more attention is the attitude of traditional financial institutions. J.P. Morgan recently tested the issuance of its "Deposit Token" (JPMD) on the Base Chain to represent deposits in the US dollar. These assets may be future-proof and fit into a regulatory compliance pathway. JPMD is seen as an alternative to traditional stablecoins, and if it goes well, it is likely to become an important foothold for traditional institutions such as banks, brokerages, and payment platforms to "go on-chain".

In the context of the "gold master" moment of the Base chain, the potential projects in the ecosystem are also worthy of our attention.

1. Aerodrome (AERO)

The core DEX on the Base chain adopts the ve(3, 3) model to formulate liquidity incentives through voting and depth.

  • With a current TVL of $990 million, it is the largest AMM protocol on the Base chain

  • After integrating with the Coinbase App, the number of users and transactions grew further

2. Spark Protocol: A Compound-based lending platform

Spark is a lending protocol initiated by members of the MakerDAO community and developed based on the Compound v3 engine, and has been officially deployed to the Base chain. Its design goal is to optimize the traditional lending model, make the strategy execution more flexible, and adapt to a variety of asset allocation needs.

  • More flexible interest rate mechanism: Compared with traditional compounds, Spark has an optimized interest rate model, which dynamically adjusts borrowing costs according to market changes, and better supports leveraged trading and re-pledge of stablecoin assets.

  • Abundant asset support: The platform supports the lending of mainstream stablecoins such as DAI and USDC, which is suitable for stable fund management needs.

  • TVL performance: As of June 2025, Spark has reached $410 million in total locked holdings on the Base chain, ranking among the top eco-lending platforms and one of the most robust growth protocols on the chain.

3. Stargate Finance: A cross-chain bridging hub on the Base chain

Stargate is the core bridging protocol in the LayerZero ecosystem, and has been fully connected to the Base Chain, providing a secure and efficient underlying channel for inter-chain asset flows.

  • Seamless cross-chain functionality: Users can make one-click asset transfers between Base and main chains such as Ethereum, Arbitrum, Optimism, etc., which is suitable for DeFi users, asset arbitrageurs, and multi-chain strategy accounts.

  • Settlement layer status has been improved: With the gradual accumulation of stablecoins such as USDC, HUSD, DAI and other stablecoins on the Base chain, Stargate has become an important channel to support the cross-chain transfer and repatriation of these assets.

  • Clear ecological positioning: Stargate not only improves the external interoperability of the Base chain, but also attracts more developers to build application protocols that integrate with it.

According to DefiLlama data, Stargate's TVL on the Base chain is currently stable at around $120 million, ranking among the top cross-chain protocols.

4. Moonwell: A lending protocol that focuses on user experience and security

Moonwell is one of the few lending platforms on the Base chain designed with ordinary users as the core target, emphasizing security, transparency, and ease of use.

  • Dual security: The platform integrates Chainlink oracles with Gauntlet's risk model, which allows for timely adjustment of parameters in case of high price volatility and reduces liquidation risk.

  • Education-friendly design: Moonwell provides detailed user guidelines and community governance transparency to attract novice users to participate in lending and motivate users to participate in governance proposals.

  • Coinbase Smart Wallet integration: Recently, Moonwell has been integrated into the Coinbase Smart Wallet, which allows users to borrow and borrow directly in the Coinbase app without the need for a seed phrase, greatly reducing the barrier to entry.

  • Development: As of mid-June, Moonwell's TVL on the Base chain has grown steadily, currently around $64 million, with a steady overall growth trend and long-term accumulation potential.

brief summary

The Base Chain is evolving from a single technical infrastructure to a bridge connecting centralized exchanges, payment scenarios, traditional financial institutions, and crypto users. For ordinary investors, paying attention to the development of the Base Chain ecosystem may mean gaining a forward-looking perspective in the next round of public chain narratives or user migration trends. The projects mentioned above are at different stages of development, but they have all shown some progress in terms of community activity, technical design, or capital support. Of course, there are always risks in the crypto market, and it is advisable to do in-depth research before making a decision.

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