Kalshi Chooses Coinbase Custody for USDC Fund Security
Kalshi’s partnership with Coinbase introduces a USDC-settled product, aiming to streamline regulated event trading and reinforce custody safeguards for prediction market participants.
USDC
Fact Check
The assessment is based on overwhelming evidence from multiple high-authority primary sources. Both parties involved, Kalshi and Coinbase, have made official announcements on their respective platforms confirming the partnership. The Coinbase blog directly states that Kalshi's prediction markets are "safeguarded by Coinbase Custody," and Kalshi's own news platform explicitly announces the partnership for its "USDC-powered" markets. This direct confirmation from both sides is the strongest possible evidence. Furthermore, this information is corroborated by several secondary sources, and there is no conflicting evidence among the provided materials. The consistency and high authority of the primary sources lead to a high-confidence conclusion that the statement is true.
Summary
According to Kalshi’s official announcement, the U.S.-based regulated prediction market platform has partnered with Coinbase Custody to secure USDC holdings for its marketplace and launch a new USDC-settled product. The collaboration will enable seamless USDC deposits, transfers, and settlement, while leveraging Coinbase’s institutional-grade custody to enhance asset protection and transaction efficiency in event-based trading.
Terms & Concepts
- USDC: A U.S. dollar-pegged stablecoin designed to maintain a value of one USD per token.
- Coinbase Custody: A custody service offered by Coinbase for securely storing digital assets, tailored for institutional clients.
- Prediction market: A platform where participants trade contracts based on the outcomes of future events.