Binance announced a groundbreaking partnership with Circle Internet Group, the issuer of the USDC stablecoin, in a press release at the Abu Dhabi Finance Week on December 11.
This collaboration aims to enhance the global adoption of USDC by integrating the stablecoin across Binance’s extensive range of products and services.
With over 240 million users, Binance plans to make USDC more accessible for trading, saving, and payments on its platform. In a significant move, the exchange also revealed it would incorporate USDC into its corporate treasury operations, marking a pivotal shift towards stablecoin-based financial transactions.
Under this partnership, Circle will provide Binance with the technology, liquidity, and tools necessary to enhance the utility of USDC for users. Both companies intend to work together to strengthen ties across the global finance and commerce sectors, further driving innovation in stablecoin adoption.
Richard Teng, CEO of Binance, emphasized the partnership’s potential to transform digital finance.
“Through this collaboration, our users will benefit from more USDC trading pairs, exclusive promotions, and expanded opportunities to use USDC across Binance products,”
Teng said.
Echoing this sentiment, Circle’s Chairman and CEO, Jeremy Allaire, praised Binance’s innovative approach and dedication to improving user experience.
“This partnership is a tremendous opportunity for USDC as it becomes more ubiquitous on the Binance platform. We’re excited to work closely with Binance to advance the global financial system,”
Allaire stated.
This announcement follows Binance’s move on September 2, when the exchange decided to exchange and convert several delisted tokens into USDC. This delisting on September 2 impacted 15 tokens, including Bitcoin Gold (BTG), Monero (XMR), and others. These measures are part of Binance’s strategy to streamline operations, manage risk, and concentrate on emerging cryptocurrencies. By removing specific tokens and adding new USDC trading pairs, Binance aims to enhance innovation within the digital asset market.
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