Binance and Circle have announced a strategic partnership to expand adoption of the USDC stablecoin and support the global digital asset and financial services ecosystem.
Binance will integrate USDC into its products and services, making it more accessible to its 240 million users for trading, savings, and payments, in addition to adopting USDC for its corporate treasury operations.
Circle will provide Binance with technology, liquidity, and tools to increase user trust and innovation as both companies collaborate to drive stablecoin utility and innovation in the global financial system.
Cryptocurrency giants Circle Internet Group Inc. and Binance today announced a new strategic partnership during Abu Dhabi Finance Week that aims to expand the adoption of USDC and drive the development of the global digital asset and financial services ecosystem.
USDC Use Cases
With USDC growing and gaining worldwide adoption as one of the most powerful tools for online monetary transactions, this collaboration brings together a highly trusted, regulated digital dollar with the largest global platform for digital asset utilization.
As part of the partnership, Binance will make USDC more widely available across its portfolio of products and services, ensuring that its 240+ million global users have seamless access to USDC for trading, savings, and payments.
Additionally, Binance will adopt USDC as a primary dollar-backed stablecoin for its own treasury reserves, a significant sign of the world’s migration to on-chain technologies.
Building technology, relationships and trust
Similarly, Circle will provide Binance with the technology, liquidity, and other tools necessary for platform users to benefit from the trust and innovation Circle has built with USDC. Circle will also collaborate with Binance to establish key relationships in the global financial and trading landscape as traditional businesses around the world seek to benefit from crypto infrastructure and stablecoins for a growing range of uses.
“Binance is an incredibly innovative company with a relentless commitment to product quality, innovation, and user-centricity, which is reflected in its large and loyal global community of over 240 million users,” said Jeremy Allaire, President and CEO of Circle. “With Binance rapidly establishing itself as the world’s largest financial super app, and the adoption and utility of stablecoins at the heart of this future financial system, this is a great opportunity for USDC to become ubiquitous on the Binance platform. I look forward to working with the leaders at Binance as they continue to build the world’s largest digital asset company.”
“Circle is undoubtedly one of the most trusted and innovative companies in the digital asset ecosystem, and USDC is one of the most prominent products in the world,” said Richard Teng, CEO of Binance. “Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions, and other USDC-related products on Binance. We will also work closely with Circle to drive innovation and utility for stablecoins globally. Working together as a team, we believe we can significantly advance the possibilities of the internet of finance.”