Circle renews Coinbase agreement and expands USDC local currency support

Circle has renewed its agreement with Coinbase for a three-year term, maintaining existing economic structures for USDC. The updated contract introduces notice-and-cure remedies that allow Circle to potentially exclude certain payout streams if Coinbase fails to meet specific product or reseller support thresholds. These remedies include a 60-day window for product failures and a 90-day window for reseller failures.

In a separate expansion, Circle Mint has added support for eight local-currency on-and-off-ramps. This update allows eligible business customers to trade USDC directly using the Brazilian real, British pound, Hong Kong dollar, Mexican peso, offshore Chinese yuan, Singapore dollar, US dollar, and Euro, handling foreign exchange within the Mint platform.

Regarding the Noble network, Coinbase has implemented a cutoff for USDC deposits and withdrawals via its custodial route. While Circle’s public guidance for Noble initially lagged behind this cutoff, the restriction applies specifically to Coinbase’s custodial path rather than Noble-native USDC itself. Circle is currently working with Noble and Cosmos teams on routing solutions as it phases out legacy CCTP V1.