Coinbase Weighs Entry Into Stripe-Visa-Mastercard Stablecoin Platform
Coinbase is reportedly evaluating its participation in a new stablecoin platform being launched by Stripe, Mastercard, and Visa.
The revenue-sharing agreement between Coinbase and Circle has been in place since 2023 and is up for renewal in August. Under the current terms, Coinbase keeps 100% of interest income on USDC held on the exchange and splits revenue 50/50 on USDC circulating elsewhere.
Coinbase CEO Brian Armstrong said during Q1 earnings call that 'the contracts that we have in place with Circle are set' and expected to continue under the same terms. However, Coinbase may gain leverage heading into August's renewal talks with Circle if it joins the new platform.