Circle invested $210 million to acquire the Centre shares held by Coinbase

ChainCatcher news, according to The Block, in the initial public offering (IPO) prospectus submitted on Tuesday, Circle stated that it acquired the remaining 50% stake in Centre Consortium, previously held by Coinbase, for a value of $210 million in 2023. The Centre Consortium is the joint venture responsible for issuing the USDC stablecoin, and Coinbase and Circle were partners in this joint venture.

Circle wrote in the "Significant Transactions" section of the IPO prospectus: "In August 2023, at the same time we signed the cooperation agreement, we acquired the remaining 50% stake in Centre Consortium LLC from Coinbase." Now, Circle has become the sole issuer of USDC and has disclosed detailed financial statements in the IPO prospectus.