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Cryptocurrency change Coinbase (COIN) purchased a minority stake in stablecoin issuer Circle Web Monetary. The 2 corporations 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 convey issuance and governance of USDC totally in-house. Additionally, six extra blockchains will achieve native assist for USDC, which is pegged at $1, bringing the entire variety of supported blockchains to fifteen. Coinbase and Circle, in a weblog submit and interviews with CoinDesk, didn’t disclose the dimensions of the stake acquired by Coinbase. Coinbase didn’t give Circle money for the stake, in line with an individual conversant in the matter.
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