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Cryptocurrency trade Coinbase (COIN) purchased a minority stake in stablecoin issuer Circle Web Monetary. The 2 firms additionally dissolved their Centre Consortium partnership, which issued USD Coin (USDC), the world’s second-largest stablecoin. As a part of the transfer, Circle will deliver issuance and governance of USDC totally in-house. Additionally, six extra blockchains will achieve native help for USDC, which is pegged at $1, bringing the full variety of supported blockchains to 15. Coinbase and Circle, in a weblog submit and interviews with CoinDesk, didn’t disclose the scale of the stake acquired by Coinbase. Coinbase didn’t give Circle money for the stake, in response to an individual conversant in the matter.
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