Binance and Circle Internet Group have announced a strategic partnership to integrate the USDC stablecoin into Binance’s ecosystem, aiming to boost its accessibility and global adoption.
Unveiled on December 11 during Abu Dhabi Finance Week, the collaboration will make USDC available across Binance’s extensive range of products and services. This initiative will benefit over 240 million Binance users, offering them opportunities to utilize USDC for trading, savings, and payments.
Additionally, Binance plans to incorporate USDC into its corporate treasury operations, signaling a significant move toward utilizing stablecoins for on-chain financial management.
As part of the partnership, Circle will provide Binance with technological tools, liquidity, and infrastructure to enhance user experiences. Both companies aim to build connections across the global financial and commercial sectors, strengthening the adoption of stablecoins.
Richard Teng, CEO of Binance, emphasized the potential of the collaboration to accelerate stablecoin utility worldwide. “Through our strategic partnership, users will gain access to more USDC trading pairs, exclusive promotions, and a wider range of opportunities on our platform,” Teng said in a press release.
Circle’s Chairman and CEO, Jeremy Allaire, shared similar enthusiasm, describing Binance as “an incredibly innovative company” committed to product quality and user experience. “This is a tremendous opportunity for USDC as it becomes ubiquitous on Binance’s platform. I’m thrilled to collaborate with Binance’s leadership as they continue to expand their digital asset presence,” Allaire remarked.
Stablecoins have played a pivotal role in the global adoption of cryptocurrencies, with their usage growing significantly. According to VISA, stablecoins have facilitated over 1 billion transactions, amounting to nearly $8 trillion in value.
The announcement follows Ripple Labs’ recent approval by the New York Department of Financial Services to launch its RLUSD stablecoin, further underscoring the increasing prominence of stablecoins in the $200 billion global liquidity market.
This partnership between Binance and Circle highlights the growing interest among mainstream companies in leveraging stablecoins for payments and as a gateway to the broader crypto industry.
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