ICE and Circle Sign MOU to Explore Product Innovation Based on Circle’s USDC and USYC Digital Assets
Intercontinental Exchange (NYSE:ICE) and Circle Internet Group have signed a memorandum of understanding to explore innovative applications of Circle's digital assets. The collaboration focuses on integrating USDC stablecoin and US Yield Coin (USYC) into ICE's market infrastructure.
USDC, a fully reserved digital dollar with over $60 billion in circulation as of March 2025, maintains 1:1 price equivalence with the US dollar. The stablecoin's reserves are backed by highly liquid cash and cash-equivalent assets, primarily invested in the Circle Reserve Fund (USDXX), an SEC-registered government money market fund.
The partnership aims to develop new products and solutions across ICE's derivatives exchanges, clearinghouses, data services, and other markets. USDC, launched in 2018, is currently accessible to approximately 600 million end-user wallet products, supporting various applications from crypto capital markets activities to dollar store of value and payments.
Intercontinental Exchange (NYSE:ICE) e Circle Internet Group hanno firmato un memorandum d'intesa per esplorare applicazioni innovative degli asset digitali di Circle. La collaborazione si concentra sull'integrazione di USDC stablecoin e US Yield Coin (USYC) nell'infrastruttura di mercato di ICE.
USDC, un dollaro digitale completamente riservato con oltre 60 miliardi di dollari in circolazione a marzo 2025, mantiene un'equivalenza di prezzo 1:1 con il dollaro statunitense. Le riserve della stablecoin sono supportate da liquidità elevata e asset equivalenti in contante, principalmente investiti nel Circle Reserve Fund (USDXX), un fondo del mercato monetario governativo registrato presso la SEC.
La partnership mira a sviluppare nuovi prodotti e soluzioni attraverso gli scambi di derivati di ICE, le camere di compensazione, i servizi di dati e altri mercati. USDC, lanciato nel 2018, è attualmente accessibile a circa 600 milioni di prodotti wallet per utenti finali, supportando varie applicazioni che vanno dalle attività dei mercati dei capitali cripto alla conservazione di valore in dollari e ai pagamenti.
Intercontinental Exchange (NYSE:ICE) y Circle Internet Group han firmado un memorando de entendimiento para explorar aplicaciones innovadoras de los activos digitales de Circle. La colaboración se centra en integrar USDC stablecoin y US Yield Coin (USYC) en la infraestructura de mercado de ICE.
USDC, un dólar digital completamente reservado con más de 60 mil millones de dólares en circulación a partir de marzo de 2025, mantiene una equivalencia de precio 1:1 con el dólar estadounidense. Las reservas de la stablecoin están respaldadas por efectivo altamente líquido y activos equivalentes a efectivo, principalmente invertidos en el Circle Reserve Fund (USDXX), un fondo del mercado monetario gubernamental registrado en la SEC.
La asociación tiene como objetivo desarrollar nuevos productos y soluciones en los intercambios de derivados de ICE, las cámaras de compensación, los servicios de datos y otros mercados. USDC, lanzado en 2018, es actualmente accesible para aproximadamente 600 millones de productos de billetera para usuarios finales, apoyando diversas aplicaciones desde actividades de mercados de capitales cripto hasta almacenamiento de valor en dólares y pagos.
인터컨티넨탈 익스체인지 (NYSE:ICE)와 서클 인터넷 그룹은 서클의 디지털 자산에 대한 혁신적인 응용 프로그램을 탐색하기 위해 양해각서를 체결했습니다. 이 협력은 USDC 스테이블코인과 US Yield Coin (USYC)을 ICE의 시장 인프라에 통합하는 데 중점을 둡니다.
USDC는 2025년 3월 기준으로 600억 달러 이상이 유통되는 완전 보장된 디지털 달러로, 미국 달러와 1:1의 가격 동등성을 유지합니다. 이 스테이블코인의 저축은 고유동성 현금 및 현금 동등 자산으로 뒷받침되며, 주로 SEC에 등록된 정부 머니 마켓 펀드인 Circle Reserve Fund (USDXX)에 투자됩니다.
파트너십의 목표는 ICE의 파생상품 거래소, 청산소, 데이터 서비스 및 기타 시장을 통해 새로운 제품과 솔루션을 개발하는 것입니다. 2018년에 출시된 USDC는 현재 약 6억 개의 최종 사용자 지갑 제품에 접근 가능하며, 암호화폐 자본 시장 활동에서 달러 가치 저장 및 결제에 이르는 다양한 응용 프로그램을 지원합니다.
Intercontinental Exchange (NYSE:ICE) et Circle Internet Group ont signé un protocole d'accord pour explorer des applications innovantes des actifs numériques de Circle. La collaboration se concentre sur l'intégration de USDC stablecoin et US Yield Coin (USYC) dans l'infrastructure de marché d'ICE.
USDC, un dollar numérique entièrement réservé avec plus de 60 milliards de dollars en circulation à partir de mars 2025, maintient une équivalence de prix de 1:1 avec le dollar américain. Les réserves de la stablecoin sont soutenues par des liquidités élevées et des actifs équivalents en espèces, principalement investis dans le Circle Reserve Fund (USDXX), un fonds du marché monétaire gouvernemental enregistré auprès de la SEC.
Le partenariat vise à développer de nouveaux produits et solutions à travers les bourses de dérivés d'ICE, les chambres de compensation, les services de données et d'autres marchés. USDC, lancé en 2018, est actuellement accessible à environ 600 millions de produits de portefeuille pour utilisateurs finaux, soutenant diverses applications allant des activités des marchés de capitaux cryptographiques à la conservation de valeur en dollars et aux paiements.
Intercontinental Exchange (NYSE:ICE) und Circle Internet Group haben ein Memorandum of Understanding unterzeichnet, um innovative Anwendungen von Circles digitalen Assets zu erkunden. Die Zusammenarbeit konzentriert sich auf die Integration von USDC Stablecoin und US Yield Coin (USYC) in die Marktinfrastruktur von ICE.
USDC, ein vollständig reservierter digitaler Dollar mit über 60 Milliarden Dollar im Umlauf ab März 2025, hält eine Preisäquivalenz von 1:1 zum US-Dollar. Die Reserven der Stablecoin werden durch hochliquides Bargeld und bargeldäquivalente Vermögenswerte gedeckt, die hauptsächlich in den Circle Reserve Fund (USDXX), einen bei der SEC registrierten staatlichen Geldmarktfonds, investiert sind.
Die Partnerschaft zielt darauf ab, neue Produkte und Lösungen über die Derivatebörsen, Clearinghäuser, Datenservices und andere Märkte von ICE zu entwickeln. USDC, das 2018 eingeführt wurde, ist derzeit für etwa 600 Millionen Endbenutzer-Wallet-Produkte zugänglich und unterstützt verschiedene Anwendungen von Krypto-Kapitalmarktaktivitäten bis hin zu Dollar-Wertaufbewahrung und Zahlungen.
- Strategic partnership with Circle expands ICE's digital asset capabilities
- Access to $60 billion USDC market and its growing ecosystem
- Potential new revenue streams from innovative financial products
- Early-stage MOU with no guaranteed business impact
- Regulatory uncertainties in the stablecoin market
Insights
ICE's MOU with Circle represents a strategic positioning at the intersection of traditional finance and digital assets. By exploring integration of USDC ($
The partnership signals ICE's recognition that digital dollars could play a significant role in capital markets infrastructure. For a company operating critical market infrastructure like the NYSE and major clearinghouses, this move could eventually lead to more efficient settlement systems, reduced counterparty risk, and entirely new product categories.
What makes this particularly notable is the complementary strengths each party brings - Circle has established USDC as a leading regulated stablecoin with significant liquidity, while ICE controls key market access points and clearing mechanisms that could dramatically expand stablecoin utility in institutional finance.
While this agreement is exploratory with no immediate revenue impact, it demonstrates ICE's forward-thinking approach to maintaining its competitive position as financial markets evolve. The potential integration across derivatives exchanges, clearinghouses and data services suggests ICE sees stablecoins not as a niche technology but as infrastructure with broad applications throughout its business lines.
ICE's exploration of stablecoin integration represents a notable strategic development for an organization that operates critical market infrastructure. By partnering with Circle, ICE gains access to established stablecoin technology without having to develop this capability internally.
The potential applications across ICE's business units are substantial. For derivatives markets, stablecoins could streamline collateral management and settlement processes. For clearinghouses, they might reduce settlement times and counterparty risk. For data services, tokenized assets create new information streams to monetize.
What's particularly significant is hearing the NYSE President specifically frame stablecoins as potentially becoming "trusted by market participants as an acceptable equivalent to the US Dollar." This signals institutional thinking about stablecoins evolving from speculative assets toward legitimate financial infrastructure.
While this MOU doesn't guarantee product launches, it demonstrates ICE's commitment to innovation at the infrastructure level. For a company whose value derives from operating market utilities, staying ahead of structural changes in how assets are traded and settled is strategically vital. This exploration positions ICE to potentially build first-mover advantage in bridging traditional and digital financial markets.
“ICE’s reputation and global network across markets offer a unique pathway for Circle to integrate USDC into major new use cases, and we are thrilled for the opportunity to innovate together,” said Jeremy Allaire, Co-Founder and CEO of Circle.
Lynn Martin, President of the New York Stock Exchange, said, “We believe Circle’s stablecoins and tokenized digital currencies can play a larger role in capital markets as digital currencies become more trusted by market participants as an acceptable equivalent to the US Dollar. We are excited to explore the potential use cases for USDC and USYC across ICE’s markets.”
Circle’s USDC is a fully reserved stablecoin, otherwise known as a digital dollar, and is designed to maintain price equivalence to the US dollar. According to Circle, as of March 26, 2025, over
The majority of the USDC reserve is invested in the Circle Reserve Fund (USDXX), an SEC-registered 2a-7 government money market fund. Launched in 2018, USDC is now accessible to approximately 600 million end-user wallet products, supporting a range of use cases from crypto capital markets activities to dollar store of value, and payments applications.
Under the MoU, Circle and ICE plan to collaborate to explore applications for using Circle’s stablecoins and other product offerings within ICE’s derivatives exchanges, clearinghouses, data services, and other markets, to deliver innovation and build new markets and product offerings based on Circle’s products.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025.
About Circle Internet Group, Inc.
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 is building the world’s largest, most-widely used, stablecoin network, and issues, through its regulated affiliates, USDC and EURC stablecoins. Circle provides a comprehensive suite of financial and technology services that empower enterprises and developers to integrate stablecoins and blockchains into their products, services and business operations. For more information please visit https://circle.com.
Category: Corporate
SOURCE: Intercontinental Exchange
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ICE Media:
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Katia Gonzalez
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Source: Intercontinental Exchange
FAQ
What is the purpose of ICE's partnership with Circle regarding USDC stablecoin?
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What backs Circle's USDC stablecoin reserves?
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