The partnership will provide Binance’s user base of more than 240 million customers with increased access to USDC for trading, savings, and payment services. This expansion includes the addition of new USDC trading pairs and special promotions across various Binance products.
Binance CEO Richard Teng emphasized the partnership’s focus on expanding USDC availability. “Through our strategic partnership, our users will have even more opportunities to use USDC on our platform,” Teng stated in the announcement.
As part of the agreement, Binance will incorporate USDC into its corporate treasury operations. This move represents a deeper integration of Circle’s stablecoin into Binance’s core business infrastructure.
USDC currently maintains a circulation of $40 billion, positioning it as the second-largest stablecoin in the market. This figure stands in contrast to market leader Tether’s USDT, which holds a market capitalization of approximately $140 billion.
The timing of this partnership follows Binance’s recent regulatory settlement in the United States, where the company paid over $4 billion to resolve allegations. When asked about regulatory compliance, a Binance spokesperson emphasized user choice, noting that the exchange “always work[s] with multiple stablecoins” including USDT, USDC, and FDUSD.
Stablecoins like USDC and USDT maintain a value pegged to one US dollar, serving multiple purposes in the cryptocurrency ecosystem. A Binance spokesperson highlighted their utility in helping users in developing countries hedge against inflation and facilitate more efficient, lower-cost remittances.
Circle’s Chairman and CEO Jeremy Allaire views the partnership as a strategic opportunity.
“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,” Allaire stated.
The partnership announcement coincides with other developments in the United Arab Emirates crypto sector. Circle has established a separate partnership with LuLu Financial Holdings in Abu Dhabi, aimed at facilitating remittances and cross-border payments using USDC.
Meanwhile, Tether has also strengthened its presence in the region, with USDT receiving recognition as an “Accepted Virtual Asset” by regulators in the Abu Dhabi Global Market.
The collaboration raises questions about market competition between Circle and Tether. Circle has historically positioned itself as a more regulated stablecoin option, while Tether maintains its position as the market leader by circulation volume.
For Binance users, the partnership promises expanded access to USDC-based services across the platform’s ecosystem. The exchange plans to roll out additional USDC trading pairs and introduce special promotions related to USDC trading.
The move reflects ongoing developments in the stablecoin sector, where both USDC and USDT serve as dollar-pegged digital currencies used for trading, payments, and value storage in the crypto ecosystem.
Binance’s integration of USDC into its corporate treasury adds another dimension to the partnership, suggesting a long-term commitment to supporting multiple stablecoin options on its platform.
The partnership was announced during Abu Dhabi Finance Week, highlighting the growing importance of the UAE as a hub for cryptocurrency and blockchain innovation.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.
By Nermeen Nabil Khear