ICE Money Market NYCE + USD Circle stable

ICE, Circle to Explore Using USDC Stablecoin plan amid new payment regulation and regulatory guides, crypto is coming to traditional capital markets! The FIT 21 that we preciously published here, is paving the way for full digital asset integration, starting with NYSE money market instruments.

Intercontinental Exchange Inc. (ICE), the parent company of the New York Stock Exchange, and fintech firm Circle Internet Group announced a memorandum of understanding (MoU) to explore integrating Circle’s USDC and USYC digital assets into ICE’s financial products and markets.

The collaboration aims to leverage Circle’s market-cap stablecoin, USDC—a digital dollar pegged 1:1 to the U.S. dollar—and its tokenized money market product, US Yield Coin (USYC), across ICE’s derivatives exchanges, clearinghouses, and data services. Jeremy Allaire, Circle’s CEO, stated the partnership could unlock major new use cases for USDC through ICE’s global network, here

Per data on blockchain exploders, USDC reserves, primarily held in the SEC-registered Circle Reserve Fund (USDXX), are backed by cash and cash-equivalent assets support over 600 million wallets globally, facilitating payments, crypto trading, and store-of-value applications. Bitcoin rallied to $ 86 845 ( 2.45 % 🔺) on the news and Ethereum increased to $ 2 000 ( 1.50 % 🔺) for the past seven days.

The US stablecoin backed by Circle Inc. currently has $ 60,144,633 in total assets under management, ICE and Circle Sign MOU to explore product innovation based on Circle’s USDC and USYC Digital Assets (money market) is a first step towards indexing and full asset tokenization.

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