Circle defends USDC economics as stablecoin rivals court its partners with bigger cut
Summary
Circle is defending its business model for USDC while competing stablecoin projects try to lure its associates by offering larger profit shares. This comes as Coinbase, Circle's main collaborator, also supports an alternative venture named Open USD. That rival network distributes earnings from reserves to participants after deducting a management fee.
Coinbase, Circle’s largest USDC partner, also backs Open USD, a rival network that passes reserve income to partners after a management fee.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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