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Coinbase takes stake in stablecoin firm Circle, shuts down joint venture as it sees ‘regulatory clarity’
Cryptocurrency exchange Coinbase is taking a stake in Circle, the issuer of the USDC stablecoin, signifying a closer relationship between the two crypto heavyweights. The two companies also said they will close down the Centre Consortium, a private governance organization for USDC, as they now see “regulatory clarity” on stablecoins. “Reflecting Coinbase’s belief in the fundamental importance of stablecoins to the broader crypto economy, Coinbase is taking an equity stake in Circle,” Coinbase said in a blogpost Monday. “This means that Coinbase and Circle will now have even greater strategic and economic ... (full story)