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Stock impact report

Circle And Binance Become A Stablecoin Power Couple [Forbes]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: Forbes
Jeremy Allaire, cofounder and CEO of Circle. © 2023 Bloomberg Finance LP Circle and Binance have joined forces in a partnership deepening ties between USD Coin (USDC), a stablecoin with $41 billion in assets under management, and the world's largest crypto exchange. The collaboration, announced today at Abu Dhabi Finance Week, isn't about introducing USDC to the Binance exchange—where it's already available—but expanding its role within Binance's suite of trading products and services. This includes additional USDC trading pairs and special promotions on USDC across trading, according to CEO Richard Teng. Binance will also adopt the stablecoin for its corporate treasury and work with Circle “to build key relationships across the global finance and commerce landscape,” according to the announcement. Teaming up with a major U.S.-based crypto company could give Binance a reputational boost as it suggests a stronger commitment to regulatory compliance. Binance is still rebuilding Show less Read more
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