According to Jeremy Allaire, founder and CEO of Circle, during the earnings call, Circle has renewed its agreement with Coinbase under existing terms, ensuring that USDC continues to hold a central role across all of Coinbase’s product offerings. Under the collaboration agreement signed in 2023, Coinbase receives 100% of the interest income from USDC reserves held on the platform and 50% of the interest income from any remaining USDC reserves held off-platform, with the agreement valid for three years.
Circle and Coinbase Renew USDC Distribution Agreement
AiCoinShare
Summary
Circle and Coinbase have renewed their USDC distribution agreement, ensuring that USDC remains a core component of Coinbase's ecosystem growth. Under the 2023 agreement, Coinbase retains 100% of the interest income from USDC reserves on its platform and 50% from off-platform reserves. The agreement spans three years.
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