In its initial public offering (IPO) prospectus filed on Tuesday, Circle said it acquired the remaining 50 per cent of Centre Consortium, the joint venture responsible for issuing the USDC stablecoin in which Coinbase and Circle were partners, for $210 million worth of shares in 2023.
"In August 2023, we acquired the remaining 50 per cent of Centre Consortium LLC from Coinbase at the same time that we signed our partnership agreement," Circle wrote in the "material transactions" section of the IPO prospectus. Today, Circle is the sole issuer of USDC and has disclosed detailed financial statements in the IPO prospectus.
Circle spends $210 million to acquire Coinbase's stake in Centre Consortium
2025-04-02 00:22:19
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