Circle Renews USDC Agreement with Coinbase, Excludes Quarterly Dividends

iconKuCoinFlash
Share
This is the logo of the coin.
USDC
$1.000%
AI summary iconSummary
Circle Internet Group announced a renewed partnership with Coinbase, maintaining existing terms for USDC integration. Economic details remain undisclosed. In Q2, Circle reported $70.1 million in revenue, a 7% year-over-year increase, with USDC circulation at $73.3 billion. The company has secured distribution agreements with over 150 partners. CFO Jeremy Fox-Geen confirmed no plans for quarterly dividends, focusing instead on growth and balance sheet flexibility. Meanwhile, Federal Reserve developments continue to influence market sentiment.

Odaily Planet Daily reports that stablecoin issuer Circle Internet Group has renewed its USDC agreement with cryptocurrency exchange Coinbase under existing terms, ensuring that USDC will continue to be integrated into Coinbase’s various products. The company did not disclose the specific financial terms of the renewed agreement.

Circle's total revenue and reserve income for the second quarter amounted to $701 million, a 7% year-over-year increase; the USDC circulating supply at quarter-end was $73.3 billion. Currently, Circle has signed distribution agreements with over 150 partners to provide economic incentives for USDC adoption and promotion.

Circle CFO Jeremy Fox-Geen stated that the company has no plans to introduce quarterly dividends and will prioritize reinvesting funds into business growth while maintaining balance sheet flexibility to support investments and strategic opportunities across different market cycles. (news.bitcoin)

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.