According to foreign media outlet CryptoTimes, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is reportedly collaborating with Circle to explore integrating the USDC stablecoin into financial platforms, as reported by CryptoTimes on March 28.
Stablecoins Spotlighted as the Future of Capital Markets
Lynn Martin, President of the NYSE, has hailed stablecoins as the future of finance. He stated, “We believe that Circle’s regulatory-compliant stablecoins and tokenized digital currencies can earn trust equivalent to the U.S. dollar from market participants, playing a larger role in capital markets.”
ICE and Circle are looking beyond mere cryptocurrency trading, considering the application of USDC in traditional markets such as bonds and the short-term money market.
USDC currently ranks as the world’s second-largest stablecoin, trailing Tether’s USDT. However, it has seen rapid growth in recent months, with $16.5 billion in new USDC issued over the past three months—compared to just $4.7 billion in new USDT during the same period. As a result, USDC’s market share has risen from 20.7% to 25.4%. This partnership with ICE is expected to further solidify USDC’s foothold in mainstream financial markets.
Circle Accelerates Regulatory Compliance and Global Expansion
Jeremy Allaire, CEO of Circle, described the collaboration as a “tremendous opportunity,” adding, “ICE’s credibility and global market network provide Circle with a unique pathway to integrate USDC into significant new use cases. We’re excited to pursue innovation together.” USDC is currently adopted widely, used in over 600 million wallets worldwide.
Circle also holds a strong position in regulatory compliance. In Europe, it became the first stablecoin issuer to comply with MiCA regulations, while in Japan, it recently gained approval to issue USDC and listed on SBI VC Trade, with more listings expected to follow.
The growth of stablecoins has been explosive. In 2024, stablecoin transaction volume surpassed the combined totals of Visa and Mastercard, marking a historic milestone. The total issuance of stablecoins now exceeds $200 billion, accounting for 1% of the entire U.S. dollar circulation.
The ICE-Circle partnership is poised to be a key driver in establishing new financial standards amid this growth trajectory.
