Binance deal gives Circle a boost in stablecoin race with Tether, analysts say
The five-year deal could strengthen USDC’s reach in emerging markets, though Tether’s liquidity advantage remains hard to dislodge, analysts told CoinDesk.
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Summary
- Binance’s $100 million stake and tie-up gives Circle a powerful distribution channel in markets where USDT is deeply entrenched, analysts said.
- USDC trading on Binance has already surged since the companies first partnered in 2024, Kaiko data shows.
- Tether still benefits from deeper local liquidity and long-standing user habits, limiting how quickly market share could shift, CEO of market maker Gravity Labs noted.
