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Coinbase executive: The USDC distribution contract with Circle will automatically renew every three years and will never terminate
BlockBeats News, May 8 — Coinbase Chief Financial Officer Alesia Haas stated during this morning’s earnings call: “Coinbase’s USDC contract (Note: referring to the distribution agreement with Circle) automatically renews every three years and is perpetual. This contract cannot be terminated.”
Coinbase Chief Compliance Officer Paul Grewal also said: “Fortunately, the terms of the contracts we have signed with Circle are already determined, and as Alesia Haas emphasized, these contracts will automatically renew. We expect to continue our cooperation with Circle under the same terms in the future.”