1 month ago 1 min read

MakerDAO joins forces with Coinbase to become the largest USDC holder

Coinbase stated on October 24 that the MakerDAO board had voted in favor of the proposal to take custody of $1.6 billion USDC with Coinbase Prime. This means that Coinbase has for the first time extended its USDC rewards program to an institutional client. MakerDAO will keep the money with Coinbase Prime, the company’s institutional broker, and earn 1.5% on it. On October 24, the proposal received 75% of the votes cast, or 109,944 MKR tokens. Coinbase believes that stablecoins will play an important role in the future of finance. Over the last few years, its USD Coin has increased