Considering the current environment, where USDC adoption has been on the rise and has become one of the most dominant utilities for money on the internet, the partnership forged between Circle and Binance is set to merge a compliant digital dollar with a platform that allows the usage of digital assets.
The announcement comes just a few months after BVNK and Circle teamed up to assist the utility of USDC for the former’s global customer base. The move integrated USDC into BVNK’s payment services, enabling businesses to leverage stablecoin for several payment purposes, including global payroll and large-scale contractor and customer payouts.
As part of the collaboration, Binance is set to scale the availability of USDC across its suite of products and services, ensuring that over 240 million global users can access and utilise USDC for trading, saving, and payment applications. Moreover, Binance intends to implement USDC as a dollar stablecoin for its corporate treasury.
At the same time, the partnership enables Circle to equip Binance with the technology, liquidity, and other tools for its users, as well as to collaborate with the crypto exchange to develop relationships across the global finance and commerce landscape. Representatives from Circle commented on the announcement, mentioning that, considering Binance’s position in the industry and that stablecoin adoption and utility are at the centre of this financial system, the partnership aims to support the broader implementation of USDC. Moreover, Binance underlined that, as part of this strategic alliance, its users gain additional opportunities to leverage USDC on its platform, including more USDC trading pairs, promotions on trading, and other products delivered by the company. Both Binance and Circle aim to support the advancement and utility of stablecoins worldwide, serving the needs, demands, and preferences of customers, while also remaining compliant with regulatory requirements.
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