Coinbase and Circle co-founded the CENTRE Consortium in 2018 to establish a standard for fiat on the internet and promote the global adoption of fiat stablecoins through a governance framework and network. Their shared vision is to create an open global financial system using blockchain infrastructure, and the first initiative under this consortium is the USD Coin (USDC), which Circle initially issued and is now available on Coinbase platforms. USD Coin is recognized as the first open, fungible, and interoperable fiat stablecoin, gaining support from over 40 companies across various sectors, including wallets, exchanges, and decentralized applications. The CENTRE Consortium welcomes broad industry participation and plans to expand its network with more issuers and a detailed technical roadmap. By establishing open standards, CENTRE aims to foster a vibrant ecosystem that maximizes network effects and delivers significant value worldwide, advancing the use of stablecoins as a price-stable medium of exchange and a versatile token for smart contracts and decentralized financial protocols.