USDC surges due to partnership with Coinbase, revenue-sharing agreement

Circle Internet’s partnership with Coinbase has propelled USDC to new heights, with stablecoin revenue surging 51% in Q1. The revenue-sharing agreement sees interest income split 50:50 off-platform, with Coinbase retaining 100% on its platform. Analysts predict a foundational, long-term relationship between the two companies.

Coinbase’s dominance in the U.S. crypto market, holding a 67% market share, bolsters USDC’s utility. The upcoming launch of a perpetual futures platform using USDC as collateral reinforces its role in trading products. Regulatory acts like the GENIUS and CLARITY Acts are set to drive stablecoin innovation onshore.

The future looks bright for USDC as Circle and Coinbase continue to innovate and scale. With regulatory clarity on the horizon, the partnership is poised to strengthen, fostering further growth and innovation in the U.S. stablecoin landscape.