Circle Internet Group and world’s largest crypto exchange Binance have formed a strategic partnership to expand the use of USDC, a stablecoin pegged to the US dollar.

Binance will integrate USDC more deeply into its platform, offering over 240 million of its global users more options to trade, save, and use USDC for payments.

The crypto exchange will also hold USDC as a significant asset in its corporate treasury.

Circle will provide Binance with the necessary technology and liquidity to support USDC adoption.

Additionally, Circle and Binance will collaborate to build relationships with global financial institutions and businesses, promoting the use of digital assets and stablecoins in a wider range of applications.

“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.”

said Jeremy Allaire, Chairman and CEO of Circle.

“Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including 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.”

said Richard Teng, CEO of Binance.

Featured image credit: Edited from Freepik