{"id":19422,"date":"2024-12-11T13:26:43","date_gmt":"2024-12-11T11:26:43","guid":{"rendered":"https:\/\/forklog.com\/en\/circle-and-binance-collaborate-to-promote-usdc\/"},"modified":"2024-12-11T13:26:43","modified_gmt":"2024-12-11T11:26:43","slug":"circle-and-binance-collaborate-to-promote-usdc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-and-binance-collaborate-to-promote-usdc\/","title":{"rendered":"Circle and Binance Collaborate to Promote USDC"},"content":{"rendered":"<p>Circle and Binance have forged a strategic partnership to expand the global reach of the USDC stablecoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">BREAKING NEWS:\u00a0 Circle and Binance have entered into a strategic partnership that will accelerate global USDC and crypto adoption.\u00a0 The world\u2019s largest exchange and crypto super app and the world\u2019s largest trusted and compliant dollar stablecoin operator are coming together to\u2026 <a href=\"https:\/\/t.co\/WO8w4rv3NZ\">pic.twitter.com\/WO8w4rv3NZ<\/a><\/p>\n<p>\u2014 Jeremy Allaire \u2014 jda.eth \/ jdallaire.sol (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1866733181728366593?ref_src=twsrc%5Etfw\">December 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe world\u2019s largest crypto exchange and super app is joining forces with a trusted and regulated stablecoin operator to work on the next phase of crypto adoption,\u201d said Circle co-founder and CEO Jeremy Allaire.<\/p>\n<\/blockquote>\n<p>As part of the collaboration, Binance will enhance user access to USDC through its products and services. The exchange will also include the \u201cstablecoin\u201d in its corporate treasury assets.<\/p>\n<p>Circle will provide the platform with \u201cliquidity, a range of technologies, and other tools.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe will also join forces to work on products and partnerships that will promote the use of stablecoins and crypto infrastructure in everyday financial activities and commerce worldwide,\u201d Allaire added.<\/p>\n<\/blockquote>\n<p>In February 2023, the New York State Department of Financial Services (NYDFS) prohibited the infrastructure company Paxos from issuing the Binance-branded stablecoin BUSD.<\/p>\n<p>The <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> also raised concerns regarding the asset, considering its offering as an investment contract. Circle supported the exchange on the coin&#8217;s status. In July 2024, the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-concludes-investigation-into-busd\">concluded its investigation<\/a>.<\/p>\n<p>According to media reports, NYDFS&#8217;s concerns about BUSD arose after Circle complained about the stablecoin&#8217;s reserve management quality. Other experts had previously pointed out these shortcomings in the backing mechanism.<\/p>\n<p>In 2023, Binance supported the launch of the FDUSD, a dollar-pegged \u201cstablecoin\u201d by Hong Kong-based First Digital Labs.<\/p>\n<p>The asset&#8217;s capitalization stands at $1.74 billion, while USDC&#8217;s is $40.8 billion. Tether&#8217;s USDT dominates the stablecoin segment with a figure of $138.7 billion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"368\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-7-1024x368.jpg\" alt=\"Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-7\" class=\"wp-image-247404\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-7-1024x368.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-7-300x108.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-7-768x276.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-7.jpg 1151w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/en\/categories\/stablecoins\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>On December 10, the combined market value of stablecoins surpassed $200 billion.<\/p>\n<p>Analysts at Bernstein have forecasted a rise in capitalization to $2.8 trillion within the next five years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle and Binance have forged a strategic partnership to expand the global reach of the USDC stablecoin. BREAKING NEWS:\u00a0 Circle and Binance have entered into a strategic partnership that will accelerate global USDC and crypto adoption.\u00a0 The world\u2019s largest exchange and crypto super app and the world\u2019s largest trusted and compliant dollar stablecoin operator are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,1220,1390,807,910],"class_list":["post-19422","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-circle","tag-partnership","tag-stablecoins","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=19422"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19422\/revisions"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=19422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=19422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=19422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}