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Binance and Circle form partnership that could make USDC stablecoin larger than USDT
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THE Binance announced this Wednesday (11), astrategic partnership with Circleissuer of the USDC stablecoin. The announcement took place during Abu Dhabi Finance Week.
As the announcement revealed, the Binance will integrate USDC into its corporate treasury and in its services and products. Meanwhile, the Circle will provide technology support, liquidity and additional tools.
This partnership can represent a upheaval in the stablecoins market, putting USDC in a position to challenge USDT’s dominance.
With this initiative, Binance will strengthen the use of USDC on its platformpromising more trading pairs, exclusive promotions and greater visibility for the stablecoin.
Binance Partnership: Can USDC Outperform USDT?
On the other hand, Jeremy Allaire, CEO of Circle, highlighted the transformative potential of collaboration.
The stablecoin market is currently led by USDT, which has a market value of around US$138 billion, compared to US$40 billion for USDC.
However, the USDC already dominates the decentralized finance (DeFi) ecosystem. Furthermore, it has a greater presence in various blockchains. Now, with the integration on Binance, USDC can expand its participation in centralized exchanges, a space where USDT still leads.
THE institutional support that Circle receivescombined with clearer regulation of its operations, can help USDC to win over corporate users and expand your reach. The partnership with Binance reinforces this strategy, bringing more liquidity and visibility to the stablecoin.
While USDT maintains its leadership due to high liquidity and transaction volume, the adoption of USDC on a global platform like Binance signals a Tight dispute for the throne in the stablecoins market.
Binance and Circle form partnership that could make USDC stablecoin larger than USDT
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Binance and Circle form partnership that could make USDC stablecoin larger than USDT
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Binance and Circle form partnership that could make USDC stablecoin larger than USDT
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Binance and Circle form partnership that could make USDC stablecoin larger than USDT
