Coinbase CFO and CLO confirm USDC partnership with Circle auto-renews every three years and cannot be terminated

Coinbase CFO Alesia Haas disclosed on the company's earnings call that its USDC revenue-sharing contract with Circle auto-renews every three years into perpetuity and carries no termination clause. CLO Paul Grewal echoed that the existing terms are locked in and that Coinbase expects the relationship to continue unchanged.

The arrangement is commercially significant: under the partnership, Circle is required to share nearly half of its profits with Coinbase. With USDC supply expanding alongside broader stablecoin adoption, that revenue stream is structurally protected on Coinbase's side regardless of any future renegotiation pressure.

The disclosure adds clarity at a moment when Circle is pursuing a public listing and stablecoin regulation is advancing in Washington — both of which had raised questions about whether the partnership terms could shift.