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Coinbase10-K: Digital transformation

Coinbase and Circle to recruit third-party partners to increase USDC circulation.

What happened

A November 2024 supplement to their agreement establishes a framework to pay fees to 'approved participants' who help grow USDC.

Source

SEC EDGARFeb 12, 2026

Annual report (Form 10-K)

Coinbase 10-K for FY2025

Filing excerpt

We and Circle may, from time to time, enter into arrangements with third parties approved by both us and Circle (such third parties, “approved participants”) that provide for fees to be paid to such approved participants to increase the circulation of stablecoins subject to the Circle Agreement.

sec.gov/Archives/edgar/data/1679788/000167978826000015/coin-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Digital transformation

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 12, 2026

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The full record

From the Signal API record

Details

CIK
1679788
Accession number
0001679788-26-000015
Metric named
Fees to be paid to approved participants
Timeframe
Multi year
Filing year
2026
Why it matters
Multi-year tech investment
Signal category
Strategic

Topics and mentions

Technologies

  • USDC
  • stablecoins

Vendors

  • Circle Internet Financial
  • LLC

Vendors named

  • Circle Internet Financial, LLC

Extraction

Confidence
High
Relevance
80%
Sentiment
Positive
Detected
Feb 17, 2026
signal_type
sec-10k
signal_subtype
digitalTransformation

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/49ef2d2d-6ea8-47e8-a47c-e01c5d2c1eac returns this record as JSON. POST /v1/companies/enrich returns every signal for coinbase.com.

{
  "signal_id": "49ef2d2d-6ea8-47e8-a47c-e01c5d2c1eac",
  "signal_type": "sec-10k",
  "signal_subtype": "digitalTransformation",
  "detected_at": "2026-02-17T06:31:07.781+00:00",
  "company": {
    "name": "Coinbase",
    "domain": "coinbase.com"
  },
  "data": {
    "detail": "A November 2024 supplement to their agreement establishes a framework to pay fees to 'approved participants' who help grow USDC. This creates a direct opportunity for financial institutions and fintechs to partner with Coinbase, signaling a need for partner onboarding, integration, and payment management systems.",
    "metrics": {
      "timeframe": "multi_year",
      "dollar_context": "Fees to be paid to approved participants"
    },
    "summary": "Coinbase and Circle to recruit third-party partners to increase USDC circulation.",
    "excerpts": "We and Circle may, from time to time, enter into arrangements with third parties approved by both us and Circle (such third parties, “approved participants”) that provide for fees to be paid to such approved participants to increase the circulation of stablecoins subject to the Circle Agreement.",
    "relevance": 0.8,
    "sentiment": "positive",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1679788/000167978826000015/coin-20251231.htm",
    "filing_date": "2026-02-12",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Multi-year tech investment",
    "signal_category": "strategic",
    "vendors_mentioned": [
      "Circle Internet Financial, LLC"
    ],
    "technologies_mentioned": [
      "USDC",
      "stablecoins"
    ]
  }
}

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