Circle Collaborates with Binance to Improve Cryptocurrency Adoption
Circle has entered into a strategic partnership with Binance to accelerate cryptocurrency adoption worldwide and accelerate global USDC.
Announcement by Circle and Binance
Circle and Binance announced that they will be collaborating together on a novel endeavour. The aim of the partnership will be to expand the adoption of the USDC. This will not only help overall cryptocurrency adoption but also improve the development of global digital assets and strengthen the broader financial system.
The growth and adoption of the USDC can become a watershed moment for the global financial system. The collaboration will help to bring together the digital dollar with the largest global platform for digital assets.
As part of the partnership, Binance will ensure that USDC is available across its platform and a full suite of products and services. This agreement will help to ensure that over 240 million Binance users will be able to invest, trade, and make payments using USDC.
Further, Binance will also be adopting the USDC as part of its own corporate treasury. The utility of cryptocurrencies is likely to spread thanks to this move.
Press Statements by Binance and Circle
“Binance is an incredibly innovative company and has demonstrated a relentless commitment to product quality, innovation, and user-centricity. This shows in their massive and loyal global community of more than 240 million users.”
Further, Jeremy Allaire, currently the CEO of Circle said, “With Binance rapidly becoming the world’s leading financial super app, and stablecoin adoption and utility at the core of this future financial system, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform. I’m thrilled to be working with the Binance leadership team as they continue to build the largest digital asset company in the world.”
“Circle is without a doubt one of the most trusted and innovative companies in the digital asset ecosystem, and USDC is one of the most preeminent products in the world,” stated Richard Teng, CEO of Binance.
“Through our strategic partnership, our users will have even more opportunities to use USDC on our platform. This includes more USDC trading pairs, special promotions on USDC across trading, and other products on Binance. We will also work closely with Circle to drive innovation and utility for stablecoins globally. Working together as a team, we believe we can materially push forward the possibilities for the internet financial system.”
Impact on Traders
Cryptocurrency enthusiasts will welcome the inclusion of USDC on Binance. The ability to trade the USD while being linked to the blockchain can help cryptocurrency traders engage in the forex markets. Further, this move will help to spread awareness about USDC and increase its adoption as well.
Summing Up
This strategic partnership will help to position Circle as a leader bringing the USD on-chain. Binance, being the world’s largest cryptocurrency platform, can help to accelerate USDC’s adoption and it may also help to raise further awareness about cryptocurrency as a whole since the USDC is linked to the USD.
