Binance's $100M Circle stake and five-year deal boost USDC in stablecoin race
- —Binance took a $100 million stake in Circle plus a five-year USDC deal
- —USDC-quoted spot markets on Binance grew from 140 to 329
- —Monthly USDC volume on Binance doubled to consistently above $80 billion
- —USDC market cap is about $74 billion versus roughly $140 billion for USDT
Why it matters: The tie-up gives USDC a powerful distribution channel through the largest exchange, intensifying competition with USDT in emerging markets.
Source: CoinDesk