Binance and Circle partner on USDC stablecoin to incorporate products
Binance and Circle have entered into a strategic partnership around USDC, with a goal of incorporating the stablecoin into products that can be used locally.
Circle chief executive Jeremy Allaire made the announcement on stage along with Binance chief Richard Teng at ADGM's Abu Dhabi Finance Week on Wednesday.
The deal is expected to expand adoption of the digital asset across broader financial services and the greater ecosystem.
“This is going to change the way money moves in the whole world," said Mr Allaire, adding that the world is still in the very early days of stablecoin mainstream use.
Aiding in that endeavour, Binance plans to make the USDC more available across its suite of products, which includes payments along with trading and saving, that reaches more than 240 million global users, according to the crypto platform.
Circle will additionally work with Binance to develop key relationships across the global finance and regulatory landscape, in addition to providing technology and liquidity tools.