Circle Renews Coinbase USDC Agreement and Rules Out Quarterly Dividends

Odaily News: Stablecoin issuer Circle Internet Group has announced that it has renewed its USDC cooperation agreement with cryptocurrency exchange Coinbase under existing terms, and USDC will continue to be integrated across Coinbase's various products. The company did not disclose the specific economic terms of the renewed agreement. 

Circle's total revenue and reserve income for the second quarter reached $701 million, up 7% year-over-year; USDC circulation stood at $73.3 billion at the end of the quarter. Currently, Circle has signed distribution agreements with over 150 partners, providing economic incentives for the adoption and promotion of USDC. 

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