This is exactly why Coinbase does have its own asset back reserve stable coin called USDC. Well, to be specific, its a consortium of companies to which Coinbase

This is exactly why Coinbase does have its own asset back reserve stable coin called USDC. Well, to be specific, its a consortium of companies to which Coinbase is on of. As you described, theyre incentivized to properly hold and maintain the reserve assets because A) They are exposed and liable to US laws (Coinbase is a public US company) B) They reap the benefits of having a native stable coin for the users on their respective platform.