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USDC is expected to roll out on 6 new blockchains on which it will be available natively. This growth could trigger a pivot in USDC's market and more importantly, the level of utility.
Coinbase invests in Circle, and the USDC Centre dissolves as stablecoin rules improve around the world.
Coinbase secures a minority stake in Circle, enabling Circle to oversee USDC operations for increased stability and growth.
A novelty in the crypto world: Coinbase, the prominent US exchange, is set to acquire a minority stake in Circle Internet Financial, simultaneously dissolving their joint partnership in the Centre Consortium that has played a key role in the governance of USD Coin (USDC).
The partnership between Coinbase and Circle navigates stablecoin dynamics and regulatory changes, with the latter taking full control of USDC issuance and governance.
In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally, Coinbase has acquired an equity stake in Circle while signaling a stronger commitment to stablecoins.
Coinbase Global announced significant restructuring this week with plans to secure an equity stake in Circle. Additionally, the two companies, which jointly managed the Centre Consortium responsible for the stablecoin USD Coin (USDC), will dissolve this partnership.
Both parties will continue to generate revenue from USDC reserves interest income.
Circle and Coinbase have been jointly managing Centre Consortium, the self-governing entity overseeing management of USDC stablecoin.
Coinbase and Circle, the two entities behind USD Coin (USDC), have announced new terms that would change the governance and funding of the USDC stablecoin. The new terms will see Coinbase acquire an equity stake in Circle, with the two also shutting the Centre Consortium, which initially governed the stablecoin.
Circle will launch six new blockchains between September and October. Centre will no longer exist as a stand-alone entity.
Coinbase Global announced Monday that it is acquiring an equity stake in Circle Internet Financial, the issuer of the USDC stablecoin.
Coinbase, who helped launch USDC in 2018, will now make further investments in the stablecoin's future.
Coinbase (COIN) has acquired a minority stake in Circle Internet Financial, coinciding with the restructuring of the Centre Consortium partnership, responsible for issuing USD Coin (USDC), the second-largest stablecoin globally. This transition places UDC's issuance and governance under Circle's control, a pivotal development that broadens its impact.
Centre Consortium handled the governance of USDC. Coinbase and Circle will continue to share revenue from USDC reserves' interest income.
The biggest US-based crypto exchange Coinbase announced that it has purchased a stake in USDC stablecoin issuer Circle amid growing regulatory scrutiny in the US and other parts of the world. This could be great news for Circle as well since the USDC issuer was losing market share over the last year.
Coinbase's acquisition of a minority stake in Circle Internet Financial has resulted in the dissolution of Centre Consortium.
Coinbase and Circle said in a blog post on Aug. 21 that Centre — the consortium originally responsible for the USDC stablecoin — will be dissolved. The two companies said that Centre will end its operations due to changing regulatory conditions.
Coinbase (COIN), a US-based cryptocurrency exchange, has secured a minority stake in a payment company Circle.
Coinbase, one of the leading crypto exchanges, has officially acquired an equity stake in Circle, the issuer of the USDC stablecoin. The acquisition was announced in a joint press release by both companies.
Circle will take on full operational and governance responsibility after five years, thanks to increased regulatory clarity.
Circle will now be the only issuer of the USDC stablecoin.
Coinbase (NASDAQ: COIN), a dominant force in the crypto exchange world, acquired an equity stake Monday in Circle, the co-founder of the USD Coin (CRYPTO: USDC). This strategic move, reported by Fortune Monday, is part of a broader plan to reshape the governance and financial dynamics of USDC, leading to the dissolution of the Centre Consortium, which had been at the helm of the stablecoin.
Coinbase is snapping up an equity stake in Circle, with the two companies looking to cement their control over the issuance and governance of USDC — as well as associated fee revenues.
