Thanks, Alec. We've talked about a lot of great products today: the tokenized stocks in Max's section, crypto-backed loans from Roy, cross-border stablecoin and agentic payments from Alec. All of these products run on Base. I'm Jesse, the creator of Base, the blockchain for global finance. Base is built at Coinbase. It's trusted by thousands of enterprises, and it's open to everyone. We built Base to be the financial infrastructure for the global economy. It has sub-second speed, sub-cent fees, and is open 24/7/365. You can execute any trade instantly, make payments faster and cheaper, and use agents to do anything with money. And today, we've got exciting updates to share in all of those areas.
And let's start with trading. The world's traders are already here. Base is the largest on-chain venue in the world for spot Bitcoin and Ethereum trading, with 44% of all Bitcoin spot exchange volume, more than every other chain. And we're not building the best place to trade only crypto. Every asset in the world can trade on Base: equities, commodities, predictions, anything. And as we announced earlier today, we're bringing tokenized stocks from Coinbase to Base.
Once on Base, these stocks become globally available, 24/7 markets that settle instantly and at a fraction of the cost of the legacy system. But one thing we've heard from issuers is that it's still too hard to tokenize things. Compliance, interoperability, and security remain major blockers. And to solve that problem, I'm excited to announce the Base native token standard, designed for the future of finance, built directly into the chain. This is B20.
The B20 token standard comes with tools for token issuers, like compliance, memos for payment reconciliation, and custom metadata extensions. Anyone can deploy any kind of asset on B20. We expect it to thrive with stablecoins, real-world assets, and on-chain native tokens. B20 tokens are going live this week as part of the Base Barrel upgrade, and are already being adopted by issuers from Coinbase to Clanker to some of the biggest stablecoins launching soon.
And where do people actually go to trade all of this? Well, that's the Base app. We've made a number of updates to the Base app in Q2. We have native Apple Pay funding, candlestick charts, seamless search, better discovery, limit orders, and I'm excited to launch a few more things that make Base app the best place to trade. First, we're going multi-network. We've always said that Base is a bridge, not an island. And so, the Base app now supports Solana and Bitcoin alongside Base Ethereum and dozens of other EVM chains.
Second, we're launching Base app on the web at base.app. So, you can bring your account, portfolio, and trading onto any screen. Complemented by a newly updated homepage, so you can get everything in a cleaner view to see all the assets that you hold. And finally, the Base app is getting more with tokenized stocks, commodities, predictions, and perpetuals. So, you can trade everything all in one place.
And all of this, it's available in seconds. The powerful thing about the Base app is that because it's self-custodial, you can sign up from almost any country in the world instantly with no complex forms and no sharing of personal information. The upgraded Base app gives you any asset on any screen at any time, available to everyone.
Next, let's talk about agents. As Max and Alec outlined, the next generation of users on the internet are going to be agents. And on Base, agents are already trading tokens, they're paying each other for services, and they're even spinning up their own businesses. Almost 90% of agentic transactions on X402 settle on Base, and we're already seeing a thriving ecosystem of agents starting to grow an economy. Venice is a private AI that serves millions of users, and they invented the world's first tokenized inference.
Virtuals has built an economy of 40,000 autonomous agents that are generating over $4 million in revenue. And Bankr gives agents a business model, enabling more than $30 million in agent earnings by letting agents fund themselves from their trading fees. And to make using agents on Base even easier, we just shipped the Base MCP. Any agent can now get connected to your wallet and get on chain instantly. And it works via simple prompts in all of the tools that you're used to: Codex, Claude, Cursor, OpenClaw. With Base MCP, your agent can execute transfers, trades, swaps, and any other on-chain action with simple permissions that you control.
It's now possible to open a liquidity position on Aerodrome or Uniswap, or take out a loan on Morpho, or book a flight, compile research, or compile all of this stuff into one workflow that runs seamlessly on chain. The agentic economy is being built on Base, and the Base MCP gives your agent simple, secure access.
But it's not just agents that are benefiting from crypto as frictionless money. On Base, we're seeing an explosion of payment use cases across the board. And the overall scale of the activity is pretty incredible. Alex said it, but I'll say it again. So far this year, Base has settled more than $19 trillion in stablecoin. $19 trillion. But this goes beyond dollars. There are now over 25 local stablecoins on Base covering major currencies from around the world: the euro, the yen, the Mexican peso, Nigerian naira, Singapore dollar, all live on Base.
In a future where every currency is connected to the same network, anyone anywhere can use the currency they already live in to access these incredible global financial services that we're building together. And it's happening. Stablecoin issuers like Wyre and Rain have done $600 million of stablecoin payments on Base in 2026 alone, enabling holders all around the world to spend stablecoins for everyday purchases. Neobanks like Fy and Flex are using dollar stablecoins and Bitcoin on Base to give their customers a global experience that has access to every single asset. And crypto exchanges like Bitso are using local stablecoins to enable easier onboarding and higher rewards for their customers.
They recently launched MXN, a Mexican peso stablecoin, and today they're adding even more utility by rolling out a vault that lets their customers earn on Mexican pesos in a simple experience. And so, the assets are here, the agents are here, the stablecoins are here, but we've been working for years to answer an important question: How do we move transactions on chain without broadcasting everything to the world?
The Base ecosystem has already been working on this with protocols like Veil and Horizon and Inco enabling fully private sovereign balances and transactions. This is essential work and those teams are leading our ecosystem in pushing privacy innovation. But, as we're building the blockchain for global finance, we've learned that bringing enterprises on chain requires privacy, but with the same level of compliance and controls that they get with their existing rails. And so, today we're launching private transactions on Base.
Private transactions are powered by a new privacy architecture we call ledgers, the perfect fit for enterprise. Base ledgers let any enterprise execute private transactions all while plugging directly into the global liquidity that Base provides. They give enterprises the best of all worlds: privacy for their customers, auditability and compliance tools for their regulators, and the superpowers of the global economy that's being built on Base. Coinbase Developer Platform is live this week with the first private ledger, and Base and CDP executed the first private transactions with customers this week.
Now businesses can use stablecoins and more to transform their business without giving up their privacy. And it's live today with simple APIs that make it just work. And if you're an enterprise that wants full control and customization, you can run your own ledger, either bringing your existing ledger or starting a new one on Base to do anything on chain with complete privacy for you and your customers.
Now the answer to "can we do this on chain?" is simply yes. Base is the place where everything is tokenized, where every payment costs a fraction of a cent, and where every agent can transact autonomously. This is what the future of finance looks like when the world moves on chain. But 99% of the world is still off chain. That's the opportunity in front of us. And with that, I'll hand it back to Brian to take us home.
