Circle and Binance announce strategic partnership to boost global USDC and crypto adoption

December 11, 2024
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Circle and Binance announce strategic partnership to boost global USDC and crypto adoption

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Circle Internet Group Inc. and Binance have announced a strategic partnership aimed at accelerating the adoption of USDC and expanding the role of cryptocurrencies in the global financial ecosystem.

The collaboration, revealed at Abu Dhabi Finance Week, combines Circle’s trusted and compliant digital dollar with Binance’s position as the world’s largest digital assets platform, boasting over 240 million users worldwide.

Under this partnership, Binance will integrate USDC more extensively across its full suite of products and services, enabling seamless access for its global user base.

The move will allow users to utilize USDC for trading, saving, and payments, further solidifying its position as a cornerstone of the digital finance ecosystem.

Binance also announced plans to adopt USDC as a key stablecoin within its corporate treasury, signaling a broader shift toward blockchain-based financial systems.

Circle, in turn, will provide Binance with essential technology, liquidity, and tools to enhance the user experience for USDC.

The two companies will collaborate to build relationships across the global finance and commerce landscape, enabling mainstream companies to leverage crypto infrastructure and stablecoins for a growing range of applications.

Jeremy Allaire, Chairman and CEO of Circle, praised Binance for its innovation and commitment to user-centric services.

“Binance is rapidly becoming the world’s leading financial super app, and stablecoin adoption and utility are at the core of this future financial system," he said. "This partnership presents a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform.”

Allaire also expressed enthusiasm for collaborating with Binance to advance the adoption of digital assets globally.

Richard Teng, CEO of Binance, added: “Circle is one of the most trusted and innovative companies, and USDC is a preeminent product globally."

He highlighted plans to introduce more USDC trading pairs, special promotions, and expanded utility for USDC across Binance’s platform. “Together, we believe we can materially push forward the possibilities for the internet financial system.”

The partnership is expected to foster innovation in the stablecoin market and accelerate the adoption of blockchain-based financial solutions worldwide. With Circle’s trusted USDC framework and Binance’s expansive reach and resources, the collaboration aims to reshape the role of stablecoins in the digital economy and pave the way for broader financial inclusion.

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