Hassan Maishera
TL;DR
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Circle and Binance have partnered to boost USDC adoption
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Binance will make the USDC stablecoin available to its millions of customers.
Circle Enters Into a Strategic Partnership with Binance
Stablecoin issuer Circle has entered into a strategic partnership with Binance, the world’s leading cryptocurrency exchange. The partnership aims to strengthen the USDC
stablecoin’s global presence.
Circle CEO Jeremy Allaire announced this latest partnership on X. He said,
“The world’s largest exchange and crypto super app and the world’s largest trusted and compliant dollar stablecoin operator are coming together to work on the next phase of stablecoin and crypto adoption.”
The partnership will see Binance expand USDC's availability across its platform for trading, saving, and payments. The move will see millions of Binance users gain access to the USDC stablecoin.
Furthermore, Binance is set to adopt USDC as a vital dollar stablecoin for the company’s corporate treasury. According to Allaire, Circle will support Binance with various tools to help the exchange's users better utilize the stablecoin. He added that,
“The marriage of the largest and fastest growing compliant stablecoin with their global platform marks a major and material shift in the emerging crypto market structure as we enter 2025.”
Binance is currently the world’s largest cryptocurrency exchange by trading volume, processing over $40 billion daily. Meanwhile, Circle’s USDC is the second-largest stablecoin, with a market cap of $40 billion.
Allaire revealed that the partnership was first announced on stage in Abu Dhabi Finance Week with Binance CEO Richard Teng.
