The strategic alliance between Circle, the creator of USDC, and Binance, one of the most important cryptocurrency exchange platforms globally, aims to boost the applicability of the stablecoin in the crypto environment. Through this partnership, Binance customers will be able to use USDC not only for transactions but also for value storage and deposits, significantly enhancing its performance on the platform.
Circle has shown a palpable interest in the international spread of its stablecoin. In recent months, the company has collaborated with national banking entities in Brazil and Mexico and has connected with the Aptos blockchain through Stripe. These actions solidify its goal of establishing USDC as an essential component in the global monetary system.
USDC currently ranks second among stablecoins worldwide, with a market valuation of around $40.86 billion, only surpassed by Tether (USDT), which reaches $138.62 billion.
Additionally, Circle achieved a significant milestone last week by becoming the first stablecoin to comply with the new Canadian regulations on value-referenced assets (VCRA). These regulations, implemented by Canadian Securities Authorities, will come into effect next year, representing a relevant advancement in the regulation of stablecoins in that country.