Official statements or financial disclosures from Binance

Binance and Circle Partner at Abu Dhabi Finance Week to Boost USDC Adoption Among 240M Users

Dec 11, 2024, 07:00 AM

Binance, the world's largest cryptocurrency exchange by user base, has announced a strategic partnership with Circle, the issuer of the USDC stablecoin, at the Abu Dhabi Finance Week. This collaboration aims to expand the global adoption of USDC, integrating it across Binance's ecosystem for trading, savings, and payments. Binance will make USDC more accessible to its 240 million users and will also adopt the stablecoin for its corporate treasury operations. Circle CEO Jeremy Allaire described the partnership as a 'material shift' in the stablecoin landscape. With USDC currently holding a market cap of $40 billion, making it the second-largest stablecoin, this move is seen as a significant step to challenge Tether's dominance in the stablecoin market.