Circle and Binance partner to expand USDC globally
Circle and Binance have partnered strategically to promote the growth of global digital assets and the financial services ecosystem. The strategic partnership was announced during Abu Dhabi Finance Week.
The partnership takes place as stablecoin issuer Circle and its rival Tether, whose USDT token controls the $204 billion stablecoin market, are becoming more and more competitive.
Circle USDC to expand
USDC coin will become more widely accessible on Binance. Users will have even more opportunities to use USDC on the exchange, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance, a representative of the company added.
Circle partners with LuLu financial
During Abu Dhabi Finance Week, Circle also stated that it had completed another partnership and incorporated an entity in the Abu Dhabi Global Market. To enable cross-border payments and remittances using USDC, Circle has partnered with LuLu Financial Holdings and its affiliates. LuLu Financial operates in the Asia-Pacific area, the Indian subcontinent, and member states of the Gulf Cooperation Council, handling more than $10 billion in transactions yearly.
Circle's plans for an IPO pending approval
In September, Circle announced that it would relocate its headquarters to New York in early 2025 and, if permitted by the US Securities and Exchange Commission (SEC), launch an initial public offering (IPO). In January 2024, Circle filed for an IPO with the SEC.
Binance to list more USDC trading pairs
In addition to launching exclusive promotions connected to USDC-based transactions, Binance revealed plans to list additional USDC trading pairs. Binance's announcement that it would hold USDC in its corporate treasury increased the excitement.
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