Coinbase will support the automated migration of DAI stablecoins to the new USDS token between May 4 and May 6, 2026. The exchange confirmed user balances will convert at a 1:1 ratio as part of MakerDAO’s broader transition to its “Sky” ecosystem. Major trading will be suspended during the conversion window, though some European users are excluded.
Coinbase has confirmed it will support the upcoming migration of DAI to USDS. This marks a key step in the transition of one of DeFi’s most widely used stablecoins.
The conversion will take place between 4 May and 6 May 2026. User balances will be automatically migrated at an approximate 1:1 ratio from DAI to USDS.
Ahead of the window, DAI trading on Coinbase has moved to limit-only mode with further restrictions set. Trading will be fully disabled on 4 May, while deposits and withdrawals pause between 4 and 6 May.
All eligible balances will be converted automatically with no fees. The exchange noted that users in several European Economic Area jurisdictions will not be included in the migration.
The migration is part of MakerDAO‘s broader transformation into the Sky ecosystem. This introduces USDS as the successor stablecoin.
While USDS maintains a 1:1 peg to the U.S. dollar, the shift represents a structural evolution. DAI, a foundational DeFi asset, is giving way to a new generation of stablecoin infrastructure.
Recent data indicate the transition is already unfolding at scale. USDS currently holds a market capitalization of over $11 billion, with circulating supply closely matching total supply.
Trading activity has also surged, with daily volume rising sharply in recent sessions. Despite the shift, USDS has maintained a stable peg near $1 during the migration.
