• USDC will be expanding to six new blockchains from September to October.
• Circle will assume full responsibility for USDC as the issuer, including all governance and operational aspects.
• Coinbase has taken an equity stake in Circle, ensuring greater cooperation and synergy in shaping the future of the financial system.

According to a recent announcement, Circle and Coinbase, the pioneering entities behind Centre Consortium, have reached a pivotal decision regarding USDC’s governance structure.

The press statement highlighted that the firms reevaluated the necessity for a separate governing agency as regulatory clarity regarding stablecoins grows in the United States. Circle and Coinbase have concluded that Centre will cease to exist as a standalone entity.

Circle will now assume full responsibility for USDC as the issuer, including all governance and operational aspects previously managed by Centre. This revamped structure aims to enhance operational efficiency, streamline governance, and reinforce Circle’s direct accountability as the issuer of USDC.

Furthermore, the shift includes Circle’s role in managing smart contract keys and adhering to regulatory…

The post Coinbase Steps Down, Circle Assumes Full Position for USDC as Issuer appeared first on Coin Edition.

• USDC will be expanding to six new blockchains from September to October.
• Circle will assume full responsibility for USDC as the issuer, including all governance and operational aspects.
• Coinbase has taken an equity stake in Circle, ensuring greater cooperation and synergy in shaping the future of the financial system.

According to a recent announcement, Circle and Coinbase, the pioneering entities behind Centre Consortium, have reached a pivotal decision regarding USDC’s governance structure.

The press statement highlighted that the firms reevaluated the necessity for a separate governing agency as regulatory clarity regarding stablecoins grows in the United States. Circle and Coinbase have concluded that Centre will cease to exist as a standalone entity.

Circle will now assume full responsibility for USDC as the issuer, including all governance and operational aspects previously managed by Centre. This revamped structure aims to enhance operational efficiency, streamline governance, and reinforce Circle’s direct accountability as the issuer of USDC.

Furthermore, the shift includes Circle’s role in managing smart contract keys and adhering to regulatory…

The post Coinbase Steps Down, Circle Assumes Full Position for USDC as Issuer appeared first on Coin Edition.