Coinbase Confirms Perpetual Renewal Structure in USDC Deal With Circle

During the earnings call, CFO Alesia Haas said that Coinbase’s arrangement with Circle regarding USDC is structured to renew automatically every three years on a rolling basis, with no option for termination.

Chief Legal Officer Paul Grewal added that the existing contractual terms are already in effect and will continue to auto-renew. He also noted that Coinbase expects the partnership to remain in place under the same conditions moving ahead.

Source: Yahoo Finance