Circle and Coinbase Renew Agreement Under Original Terms, USDC Distribution Partnership Extended for Three Years

TechFlow reports, August 5, Circle Founder and CEO Jeremy Allaire stated during tonight's earnings call that the company has renewed its agreement with Coinbase under existing terms, ensuring USDC continues to maintain a core position within Coinbase's entire product ecosystem.

According to the collaboration agreement signed by both parties in 2023, Coinbase receives 100% of the interest income from USDC reserves within its platform, and 50% of the interest from remaining USDC reserves outside the platform. The agreement has an initial term of three years and includes an automatic renewal mechanism.