Tag Archives: usdc

Circle and Binance partner to boost USDC and crypto adoption, enabling 240M users to trade, store, and use USDC globally. Circle and Binance have announced a strategic partnership to accelerate the adoption of USDC and cryptocurrencies. Both Allaire and Binance CEO Richard Teng revealed the partnership during Abu Dhabi Finance Week. Circle CEO Jeremy Allaire also shared this news on his X account. The partnership will enable Binance’s 240 million users to trade, store, and use USDC for...

On Wednesday morning in Abu Dhabi, Binance and Circle announced a strategic partnership to promote USDC, a stablecoin jointly owned by Circle and Coinbase. The collaboration comes as stablecoins gain traction in mainstream finance and competitors seek to challenge the dominance of market leader Tether. The Alliance Details about revenue sharing in this arrangement remain undisclosed, though sources informed Fortune that Binance will not acquire an equity stake in Circle....

USDT emerged as a leading digital asset in Q4 2024, with 109 million on-chain wallets holding it, more than double the number for Bitcoin and nearing the 128 million wallets that own Ethereum. Beyond on-chain activity, 86 million accounts on centralized platforms have received USDT deposits. USDT’s Dominance According to the second edition of ‘Tether Insights,’ the stablecoin issuer revealed that exchanges recorded 4.5 billion web visits in the first three quarters of 2024,...

Circle Internet Financial Ltd., the company behind the second-largest stablecoin in the cryptocurrency market USDC, announced layoffs following a routine operational assessment. According to the Bloomberg report, the job cuts impact under 6% of the workforce. Despite these reductions, the firm said that it remains committed to expanding geographically and improving efficiency and productivity through artificial intelligence (AI). In June, Circle reported employing 882...

Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion. This purchase marks the largest acquisition in the crypto industry to date. Record $1.1 Billion Deal TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.” Bridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store,...

Stablecoin giants like USDT and USDC continue to strengthen their hold on the market, expanding their dominance and market share. However, a new contender is making waves – PayPal’s PYUSD. While still relatively smaller, this emerging stablecoin is gaining momentum, signaling a potential shift, as per recent data. Stablecoin Power Shift? According to a report by the research team of asset manager Hashdex, stablecoins’ market dominance grew by 3% in the third quarter of 2024....

The stablecoin market is growing, increasing liquidity and stabilizing the crypto space. This growth can be seen in the two largest stablecoins, Tether USD (USDT) and USD Coin (USDC), which are now responsible for a large portion of the crypto market’s transaction volume. A tweet by the decentralized finance analysis platform IntoTheBlock revealed that USDT and USDC now represent roughly 50% of the total transaction volume among major cryptocurrencies. IntoTheBlock’s analysts...

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Palo Alto-based crypto custody firm BitGo has launched a new stablecoin, USDS, that is set to go live in January 2025. The company says the stablecoin will be fully backed by U.S. dollars through a mix of short-term Treasury bills, overnight repos, and cash in a bid to ensure liquidity and minimize risk. New Approach to Stablecoin Rewards According to a September 18 statement from BitGo, its proposed offering will differ from existing dominant stablecoins like Tether (USDT)...