On August 22nd, according to official sources, Coinbase officially announced on social media that it has taken an equity stake in Circle. This move is intended to continue its long-standing commitment and investment in stablecoins, particularly USDC. The specific details of the equity acquisition have not been disclosed at this time.
Coinbase further elaborated that it has streamlined the operations and governance of Circle. As the issuer of USDC, Circle will assume full responsibility and obligations. For Coinbase customers, there will be no changes to the USDC on Coinbase. Coinbase will continue to support USDC across all its platforms. Both Coinbase and Circle will continue to earn revenue from interest on USDC reserves, and USDC is also planning to launch on 6 new blockchains.