Circle Internet Group said on Aug. 5 that its Coinbase USDC agreement had renewed on existing terms, keeping the stablecoin at the center of the U.S. exchange’s products.
Circle and Coinbase preserve their USDC economics
Circle and Coinbase established their current commercial arrangement on Aug. 18, 2023, after closing the Centre Consortium structure that had previously governed USDC. Coinbase received a minority ownership interest in Circle, while Circle assumed sole responsibility for issuing and governing USDC.
Under the filed collaboration agreement, Coinbase supports USDC across its products and receives payments linked mainly to income earned from the assets backing the stablecoin. Circle retains an issuer allocation before the remaining income is divided according to where USDC balances are held. Coinbase also receives part of the reserve income generated by USDC held outside either company’s platform.
$USDC #USStocksEndMixedNvidiaLiftsDow
Circle and Coinbase preserve their USDC economics
Circle and Coinbase established their current commercial arrangement on Aug. 18, 2023, after closing the Centre Consortium structure that had previously governed USDC. Coinbase received a minority ownership interest in Circle, while Circle assumed sole responsibility for issuing and governing USDC.
Under the filed collaboration agreement, Coinbase supports USDC across its products and receives payments linked mainly to income earned from the assets backing the stablecoin. Circle retains an issuer allocation before the remaining income is divided according to where USDC balances are held. Coinbase also receives part of the reserve income generated by USDC held outside either company’s platform.
$USDC #USStocksEndMixedNvidiaLiftsDow