PANews reported on July 29th that, according to CoinDesk, JPMorgan Chase's latest report stated that Coinbase's partnership with Circle and its investment in the USDC stablecoin are generating significant returnsPANews reported on July 29th that, according to CoinDesk, JPMorgan Chase's latest report stated that Coinbase's partnership with Circle and its investment in the USDC stablecoin are generating significant returns

JPMorgan Chase: Coinbase has benefited significantly from its partnership with Circle and the USDC economy

2025/07/29 20:18
1 min read
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PANews reported on July 29th that, according to CoinDesk, JPMorgan Chase's latest report stated that Coinbase's partnership with Circle and its investment in the USDC stablecoin are generating significant returns through equity appreciation and high-margin revenue. The total value of Circle-related businesses to Coinbase shareholders is estimated to be between $55 billion and $60 billion, suggesting that the market may be underestimating the strategic importance of the USDC ecosystem. In the first quarter of this year, Coinbase received approximately $300 million in issuance payments from Circle, exceeding Circle's total net revenue. JPMorgan Chase estimates that Coinbase had $13 billion in USDC balances on its platform at the end of the first quarter, generating $125 million in revenue based on a 20% to 25% profit margin. Outside of the platform, Coinbase and Circle share revenue from the Circle Reserve Fund, generating $170 million in the previous quarter at a nearly 100% profit margin. JPMorgan Chase has a neutral rating on Coinbase stock with a target price of $404. In early trading on Tuesday, the stock was trading around $381.
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