BlockBeats News, August 5th, during tonight's earnings call, Jeremy Allaire, Founder and CEO of Circle, the issuer of USDC, stated: "We have successfully renewed our agreement with Coinbase under existing terms, ensuring that USDC will continue to play a central role across all of Coinbase's products. We also look forward to expanding our USDC network through distribution agreements with strategic partners."

On August 18, 2023, Circle and Coinbase signed a "Collaboration Agreement". As the sole issuer of USDC, Circle will share interest income generated from USDC reserve assets with Coinbase: Coinbase will receive 100% of the reserve interest generated by USDC held on its platform, as well as 50% of the remaining reserve interest generated by USDC held off the platform. The initial term of the agreement is three years, with an automatic renewal mechanism in place.