Circle Partners with Binance to Drive USDC Adoption

Binance has announced a strategic collaboration with stablecoin leader Circle to propel the global adoption of USDC, the companies revealed at the Abu Dhabi Finance Week on Wednesday.

Through this partnership, Circle’s USDC will be more widely accessible to over 240 million customers for trading, savings, and payments. Binance also plans to incorporate the second-largest stablecoin as a crucial dollar stablecoin for its own corporate treasury, as stated in a press release.

Binance CEO Richard Teng commented:

“Our partnership will offer our users even more opportunities to utilize USDC on our platform, including increased USDC trading pairs, exclusive promotions for USDC trading, and other products offered by Binance.”

This partnership further intensifies the competition between Circle, with $40 billion USDC in circulation, and its main competitor Tether, which has a market capitalization of approximately $140 billion for its USDT stablecoin.