#Circle , the issuer of the stablecoin $USDC , announced a significant partnership with #Binance , the world's largest cryptocurrency exchange. At an event in Abu Dhabi on December 11, the CEOs of both companies, Jeremy Allaire (Circle) and Richard Teng (Binance), revealed the details of the collaboration.
Binance will start using USDC for corporate treasury and will integrate it into its products and services. This will allow exchange users to access new trading pairs, stocks, and also use USDC in a wider range of operations.
As of today, the market capitalization of USDC is $40.86 billion, which is less than a third of #USDT。 ($138.65 billion). However, USDC is already a leader in the decentralized finance (DeFi) ecosystem.
The partnership with Binance may help Circle narrow the gap and strengthen its position, although competition with #Tether , which has huge liquidity and presence on centralized exchanges, remains a challenging task.
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