coinbase circle partnership

Coinbase Invests in Circle; USDC will Add 6 New Blockchains

CryptocurrencyNews
··1 min read

Yesterday in a joint statement, crypto giants Coinbase and Circle revealed a series of changes that are set to reshape the trajectory of the USD Coin (USDC).

Firstly, it was announced that USDC will extend its presence across six additional blockchains, expanding its compatibility and potential user base significantly.

Governance of USDC will also change, with Circle assuming responsibility for USDC’s issuance and governance. According to the press release, this will enhance operational efficiency and foster a more direct accountability structure.

Moreover, it was announced that Coinbase will take an equity stake in Circle.

Reflecting Coinbase’s belief in the fundamental importance of stablecoins to the broader cryptoeconomy, Coinbase is taking an equity stake in Circle. The nature of the investment means that Coinbase and Circle will now have even greater strategic and economic alignment on the future of the financial system. Coinbase is committed to the long term success of the stablecoin ecosystem and USDC, specifically. 

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