New Yoker Stock Exchange and USDC emitters Cicle want to examine the benefits of stable coins together
- ICE and CIRCLE signed a declaration of intent to check the integration of USDC and USYC into the capital market infrastructure.
- Circle also extends the benefits of USDC by defi and financial partnerships in Japan.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, and Circle, the issuer of USDC, have officially A declaration of intent (MOU) signed. You want to integrate USDC and US YIILD COIN (USYC) into the market services and products of ICE.
This cooperation is not only a floating long -term plan, but is intended to open a new way for the use of digital currencies in the middle of a capital market system that has so far rely on the traditional dollar.
NYSE President sees a greater role in stable coins on the capital markets
Lynn Martin, the President of the New York Stock Exchange, expressed quite directly about the direction of this cooperation in her statement. She said that stable coins like Circle’s can play a larger role on the capital market.
If more and more market participants believe in digital currencies than legitimate equivalent of the US dollar, the possibilities for their use in various ICE services are also more open. She added that with great enthusiasm you would explore different scenarios for the use of USDC and USYC in the entire ICE ecosystem.
Circle strengthens Asian presence with expansion to Japan
Apart from the big plans, this step seems to underline the endeavors of circle, to continue to help USDC greater acceptance. CNF has already reported that Circle deepens his commitment in Japan through a strategic partnership with SBI Holdings, which also includes the foundation of Circle Japan KK.
USDC will officially be represented by SBI VC Trade in Japan. It is not just about market expansion, but also about the endeavor to accelerate the blockchain-based financial innovation in the Asian region.
Free of delay: USDC moves over blockchains in real time
In addition, USDC is not only geared towards the large capital market. In the decentralized finance or defi sector, Circle also promotes the use of its technology through integration with Stargate Finance. One of the outstanding functions of circle, which is now taken over, is CCTP (Cross-Chain Transfer Protocol).
With its latest version, CCTP V2, the process of transmission of USDC between blockchain networks, which used to take up to 15 minutes, can now be completed in seconds. Imagine you send a text message – quickly and immediately without going the usual complicated way.
The integration also enables users to transfer USDC 1: 1 from one blockchain to another without having to rely on liquidity pools that are often risky and expensive. So if you have USDC, for example, on Ethereum, but need you on Arbitrum, the process is now much more flexible and faster.
Traditional finances and crypto move closer together
Back to ICE: Even if the company has not yet announced which products are being developed, this partnership is a clear sign that the boundaries between traditional finance and cryptocurrencies are increasingly blurring.
Perhaps institutional investors could one day use USDC to ensure assets, to handle shops or even to pay service fees in a stock market-something that was previously only a dream for fintech enthusiasts. However, it should be noted that this agreement is only a declaration of intent. This means that it is still in the exploratory phase.
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