During Circle’s second-quarter earnings call, Citi analyst Pete Christensen asked how the company plans to compete for distribution after the launch of the Open USD Alliance. The question focused on a market where reserve-yield sharing is becoming a standard industry practice and where Circle is also constrained by its existing economic arrangement with Coinbase. In response, Circle co-founder and CEO Jeremy Allaire said the company has signed distribution agreements with more than 150 firms and often works with Coinbase on joint distribution efforts. He pointed to a revenue-sharing arrangement with Hyperliquid reached jointly by Circle and Coinbase as one example. Allaire also said about 70% of companies that have expressed interest in participating in this type of alliance project are already part of the Circle network. On the same day as the earnings release, Circle also announced expanded cooperation with Visa and Mastercard, which will serve as key infrastructure partners for Arc.
On Circle’s second-quarter earnings call, Citi analyst Pete Christensen asked about the competitive picture following the launch of the Open USD Alliance. His question focused on how Circle plans to compete for distribution as reserve-yield sharing becomes a standard industry practice and while the company remains bound by its existing economic arrangement with Coinbase.
Circle points to existing distribution reach
Circle co-founder and CEO Jeremy Allaire said the company has signed distribution partnership agreements with more than 150 companies. He added that Circle also frequently works with Coinbase on joint distribution efforts.
As an example, Allaire said Circle and Coinbase have already reached a revenue-sharing arrangement with Hyperliquid together.
Allaire cites network overlap
Allaire also said about 70% of companies that have shown interest in taking part in this type of alliance project are already partners in the Circle network.
On the day of the earnings release, Circle also announced an expanded collaboration in which Visa and Mastercard will act as key infrastructure partners for Arc.
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