Coinbase Prime, the leading brokerage platform for crypto assets. announceOn October 24, it entered into a partnership with MakerDAO to become the $1.6 billion custodian of Stablecoin USD Coin (USDC), of which MakerDAO is the largest single holder.
The MakerDAO community voted to approve the moderation. This allows the community to earn 1.5% from USDC while holding funds with Coinbase Prime.
As Coinbase Prime reports, this move will not only bring tangible benefits for the MakerDAO community, but also exemplify the platform’s efforts to expand the stablecoin ecosystem, with Coinbase expressing confidence that stablecoins will play a role. It is important to create an open, efficient, and more equitable financial system. This will bridge the gap between the crypto and fiat worlds.
Jennifer Senhaji, responsible for business growth and development at MakerDAO, said: “The additional monthly revenue generated from this deal will allow Maker to further develop its overarching mission. to build a global financial future on the system decentralized”
Johnny_TVL, Messari analyst and co-author of “The State of Maker Q3 2022,” revealed that MakerDAO’s revenue fell to just $4 million in the third quarter, down 86% from the previous quarter.
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