BlockBeats News, April 2nd. According to The Block, in the initial public offering (IPO) prospectus filed on Tuesday, Circle stated that it acquired the remaining 50% stake in the Centre Consortium for $210 million in stock in 2023, a stake previously held by Coinbase. The Centre Consortium is a joint venture responsible for issuing the USDC stablecoin, and Coinbase and Circle were former partners in this joint venture.
In the IPO prospectus, Circle wrote in the "Significant Transactions" section: "In August 2023, at the same time as we signed the partnership agreement, we acquired the remaining 50% stake in Centre Consortium LLC from Coinbase.” Circle has now become the sole issuer of USDC and has disclosed detailed financial statements in the IPO prospectus.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.