Aon plc used Coinbase to pay insurance premiums with dollar-backed stablecoins. Aon worked with Coinbase and Paxos to settle these payments. This marks one of the first instances of a major global broker using stablecoins for these transactions.
The transactions utilized USDC on Ethereum. The transactions also utilized PayPal USD on Solana.
Coinbase aims to build non-trading revenue by providing compliant infrastructure for corporate clients. Financial institutions increasingly rely on Coinbase for regulated access to crypto functionalities. This reliance could support the growth of institutional flows.