US-based cryptocurrency exchange Coinbase states that the adoption of USDC has been more conservative outside of the US. According to its research, there is currently 3 times more USDC bought with USD than non-USD currencies. The exchange attributes such a cautious attitude to the expense of converting the local currency into USDC. USDC is currently the second-largest stablecoin and the fourth-largest cryptocurrency in terms of market capitalization. The exchange aims to remove the barrier and increase the international adoption of USDC by waving commission fees for customers using any fiat currency to buy or sell USDC on its platform.