In an effort to drive the overall adoption of the USDC stablecoin, Binance, the largest cryptocurrency exchange in the world, has teamed up with stablecoin leader Circle.
The partnership, announced during Abu Dhabi Finance Week, aims to promote the use of USDC for trading, saving, and payments among over 240 million customers.
As part of the collaboration, Circle’s USDC will be more widely available on Binance’s platform. Additionally, Binance plans to adopt USDC as a significant dollar stablecoin for its corporate treasury. This decision is expected to positively impact the use of USDC on the platform, including more USDC trading pairs and special promotions.
Binance CEO Richard Teng expressed excitement about the collaboration, stating that the partnership will offer users more opportunities to use USDC on the platform. With both companies competing for growth, it is clear that they see the potential for significant demand for stablecoins in the cryptocurrency market.
