Coinbase, Circle Renew USDC Pact as Europe Sees Crypto Transaction Ban
Coinbase and Circle have renewed their revenue-sharing agreement for USDC, extending it for three more years starting August 18. This deal governs how the two companies split stablecoin-related revenue from the dollar-pegged stablecoin issued by Circle and distributed through Coinbase's platform.
The renewal of this partnership is significant for the stablecoin market as USDC remains one of the largest stablecoins in circulation. Any shift in how its revenue gets split between issuer and distributor can influence incentives for both companies going forward.
On August 23, a ban on transactions with 14 named crypto-asset service platforms will take effect in Europe, marking one of the region's clearest regulatory milestones. Operators in the bloc face a hard deadline to cut ties with the listed platforms or risk running afoul of the new rules.