July 4 (Cointime) - Coinbase plans to update its direct deposit system using blockchain-based stablecoin settlements instead of the traditional ACH deposits. The aim is to promote the adoption of crypto worldwide, with a focus on consumer rights and security.

Blockchain-based settlements can offer faster confirmation times, eliminate the need for intermediaries, and provide similar security guarantees as ACH transactions. Coinbase believes that this approach can lead to faster transactions, significant cost savings, and minimized price volatility while empowering individuals and businesses with economic freedom and opportunity on a global scale.