BlackRock and Circle Cooperation Agreement Exposed: No Independent Issuance of Stablecoins for the Next 4 Years

According to PANews, Circle's listing report document shows that in a new memorandum of understanding signed with BlackRock in March 2025, BlackRock will be the preferred partner for its stablecoin reserves.

Both parties agree that Circle will entrust at least 90% of its US dollar custody reserves to BlackRock, which commits not to issue competitive US dollar payment stablecoins. The agreement is valid for four years.