TL;DR
- Circle and Binance have announced a strategic partnership to accelerate the global adoption of the USD Coin (USDC) stablecoin, unveiled during Abu Dhabi Finance Week.
- Binance will integrate USDC across its products and services, making it more accessible to its 240 million users and adopting it for corporate treasury operations.
- Circle will provide Binance with technology, liquidity, and tools to enhance user trust and innovation, aiming to drive stablecoin utility and innovation in the global financial system.
Circle and Binance, two giants in the crypto industry, have announced a strategic partnership aimed at accelerating the global adoption of the USD Coin (USDC) stablecoin. The collaboration was unveiled during Abu Dhabi Finance Week, highlighting the commitment of both companies to enhance the digital asset ecosystem and broaden the use of stablecoins in financial services worldwide.
#Binance is thrilled to announce a strategic partnership with @Circle to enhance our ecosystem and bring more value to our users.
Stay tuned for more updates! $USDC
Read more here ⤵️ https://t.co/toHpPg70ta pic.twitter.com/cVTkrI8oGF
— Binance (@binance) December 11, 2024
Expanding USDC Availability
As part of the partnership, Binance will integrate USDC across its extensive suite of products and services, making the stablecoin more accessible to its 240 million global users.
This integration will enable seamless access to USDC for trading, saving, and payment applications on the Binance platform. Additionally, Binance will adopt USDC as a vital dollar-pegged stablecoin for its corporate treasury operations, signaling a significant move towards on-chain financial operations.
Leveraging Technology and Liquidity
Circle will provide Binance with the necessary technology, liquidity, and tools to enhance user trust and innovation. This collaboration aims to drive stablecoin utility and innovation in the global financial system.
Circle will also collaborate with Binance to establish important connections throughout the global finance and commerce sectors, as major companies around the world aim to leverage crypto infrastructure and stablecoins for a growing variety of applications.
Statements from Circle and Binance Leadership
Jeremy Allaire, Chairman and CEO of Circle, expressed his excitement about the partnership, stating:
“Binance is an incredibly innovative company and has demonstrated a relentless commitment to product quality, innovation, and user-centricity, all of which show in their massive and loyal global community of more than 240 million users. With Binance rapidly becoming the world’s leading financial super app, and stablecoin adoption and utility at the core of this future financial system, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform.”
Richard Teng, CEO of Binance, echoed these sentiments, emphasizing the transformative potential of the partnership:
“Circle is without a doubt one of the most trusted and innovative companies in the digital asset ecosystem, and USDC is one of the most preeminent products in the world. Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.”
