$USDC Staunch competition for growth exists between Circle, which has $40 billion worth of USDC in circulation, and its bigger rival Tether, whose USDT stablecoin has a market capitalization of about $140 billion.

Circle has typically cast itself as the more regulated stablecoin, so the high-profile tie-up suggests Binance is charting a path that complies with global regulation. Binance settled U.S. allegations last year