We advised Circle in entering into a unique strategic commercial arrangement with Binance to accelerate global USDC adoption

Davis Polk advised Circle in entering into a unique strategic commercial arrangement with Binance to expand global adoption of Circle’s U.S. dollar stablecoin, USDC. Through the arrangement, Binance has agreed to make USDC more extensively available to its more than 240 million global users across their full suite of products and services, including for trading, saving, and payments applications. Binance has also agreed to adopt USDC for its own corporate treasury. Circle will provide Binance with the necessary technology, liquidity and other tools and work with Binance to build key relationships across the global finance and commerce landscape.

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle, through its regulated entities, is the issuer of the USDC and EURC fiat-backed stablecoins.

Binance is a leading global blockchain ecosystem behind the world’s largest digital asset exchange by trading volume and registered users.

The joint Davis Polk capital markets and financial institutions team included partners Daniel P. Gibbons and Gabe Rosenberg, counsel Christopher H. Van Buren and associates Abigail Barney and Justin Levine. All members of the Davis Polk team are based in the New York office.

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