Main Takeaways
Binance and Circle have announced a strategic partnership to expand the adoption of the USDC stablecoin and support the global digital-asset and financial services ecosystem.
Binance will integrate USDC across its products and services, making it more accessible to its 240 million users for trading, saving, and payments, while also adopting USDC for its corporate treasury operations.
Circle will provide Binance with technology, liquidity, and tools to enhance user trust and innovation, as both companies collaborate to drive stablecoin utility and innovation in the global financial system.
We are thrilled to announce a strategic partnership between Circle Internet Group Inc., the issuer of the USDC stablecoin, and Binance, unveiled today at Abu Dhabi Finance Week. This collaboration is set to expand the adoption of USDC and support the development of the global digital-asset and broader financial services ecosystem.
USDC Use Cases
With USDC emerging as one of the most powerful forms of internet money, this partnership brings together a trusted and compliant digital dollar with the largest platform in the world for using digital assets. Through this collaboration, Binance will make USDC even more available across our suite of products and services, ensuring that our more than 240 million global users can seamlessly access and use USDC for trading, saving, and payments applications.
Additionally, Binance will adopt USDC as a vital U.S. dollar-pegged stablecoin for our corporate treasury, signaling a significant move towards on-chain financial operations.
Building Technology, Relationships, and Trust
Circle will provide Binance with the necessary technology, liquidity, and other tools to ensure our users benefit from the trust and innovation that Circle has built for USDC. Circle will also work with Binance to build key relationships across the global finance and commerce landscape, as mainstream companies worldwide seek to benefit from crypto infrastructure and stablecoins for an increasingly wide array of use cases.
Jeremy Allaire, Chairman and CEO of Circle, expressed his excitement, calling Binance “an incredibly innovative company” that has demonstrated a relentless commitment to product quality, innovation, and user-centricity, which were instrumental in building Binance’s “massive and loyal global community” of more than 240 million users.
Allaire added, “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. I’m thrilled to be working with the Binance leadership team as they continue to build the largest digital asset company in the world.”
Richard Teng, CEO of Binance, noted, “Circle is without a doubt one of the most trusted and innovative companies in the digital asset ecosystem, and USDC is one of the 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.”
According to Teng, Binance and Circle will work closely to drive innovation and utility for stablecoins globally. This collaboration, he maintained, will materially advance the rapidly maturing digital financial system.
Stay tuned for more updates on how this partnership will benefit our community and the broader financial ecosystem.
