Coinbase updated its User Agreement on May 15, 2026 to introduce provisions for 'Secured USDC,' a new feature tied to the Coinbase One Card. Under the previous terms, Coinbase could not sell, transfer, or loan digital assets except as required by law or when you instructed it to do so. The updated agreement now explicitly permits Coinbase to transfer USDC designated as 'Secured USDC' to a third party (the secured party) without your further consent, and restricts you from withdrawing or transferring such designated assets. The secured party's instructions will be followed by Coinbase regardless of conflicting instructions you may provide.
Consumers: By using Secured USDC, you consent to Coinbase transferring those funds to a third party and following that party's orders instead of yours if they conflict.
The updated terms establish a new arrangement for USDC designated as 'Secured USDC' in connection with the Coinbase One Card. Under the revised language, if you designate USDC in your wallet as Secured USDC, you agree that Coinbase may transfer that amount to a third party designated as the secured party, and you will be restricted from withdrawing or transferring those funds. Additionally, the secured party's instructions to Coinbase regarding those assets take priority over any conflicting instructions you provide. The agreement states that you consent to all such permitted transfers. This arrangement operates independently of amounts owed to Coinbase, meaning Secured USDC will not be debited to satisfy debts you owe to Coinbase.
This is the 4th significant Rights Removal change Coinbase has made since ConductAtlas began monitoring.
ConductAtlas has recorded 5 material changes to this document over 69 days of monitoring (since March 2026). An additional minor or cosmetic changes were excluded.
3 of Coinbase's significant changes have been classified as negative for consumers.
Permits Coinbase to transfer USDC designated as Secured USDC to a third-party secured party without user consent, and subordinates user instructions to the secured party's instructions.
Users agree they will be restricted from withdrawals or transfers of USDC designated as Secured USDC.
Secured USDC will not be debited by Coinbase for amounts owed by the user, although it may be transferred to the third party as described in the One Card agreement.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
Coinbase has introduced a new contractual framework for a security-deposit feature tied to its One Card product. The updated terms authorize Coinbase to comply with instructions from a third-party secured party regarding designated USDC assets, …
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Unlock the full institutional analysis — InsightConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-002110.
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