JPMorgan has reported that Coinbase is increasingly benefiting from its strategic partnership with Circle and the economic dynamics surrounding the USD Coin (USDC). This collaboration is contributing to Coinbase's growth and expanding its financial advantages in the digital currency market. The synergy between Coinbase and Circle not only enhances Coinbase's service offerings but also positions it favorably within the evolving landscape of cryptocurrencies and stablecoins.
source: https://www.coindesk.com/markets/2025/07/29/coinbase-reaps-growing-rewards-from-circle-ties-and-usdc-economics-jpmorgan