Circle, ICE Partner to Integrate Stablecoins into Financial Markets

Circle, a prominent stablecoin issuer, and Intercontinental Exchange (ICE), the operator of the New York Stock Exchange and provider of clearinghouse services, have announced a strategic collaboration to explore the integration of Circle’s stablecoins into ICE’s operations. This partnership, formalized under a Memorandum of Understanding (MoU) announced on March 27, aims to integrate Circle’s US dollar stablecoin (USDC) and its US Yield Coin (USYC) into ICE’s derivatives exchanges, clearinghouses, data services, and other systems.

Lynn Martin, President of the New York Stock Exchange, highlighted the potential of Circle’s stablecoins and tokenized digital currencies in capital markets. She noted that as digital currencies gain trust among market participants, they can play a larger role as an acceptable equivalent to the US dollar. This collaboration comes at a time when traditional financial markets are shifting toward a more global orientation, with exchanges like Nasdaq announcing 24-hour weekday trading starting in 2026 and the New York Stock Exchange planning to extend trading hours.

Circle’s USDC is a fully reserved stablecoin designed to maintain price equivalence to the US dollar. It is backed by highly liquid cash and cash-equivalent assets, making it redeemable 1:1 for US dollars. 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 explore applications for using Circle’s stablecoins and other product offerings within ICE’s derivatives exchanges, clearinghouses, data services, and other markets. This collaboration aims to deliver innovation and build new markets and product offerings based on Circle’s products. ICE, a Fortune 500 company, provides financial technology and data services across major asset classes, helping customers access mission-critical workflow tools that increase transparency and efficiency. The company’s futures, equity, and options exchanges, including the New York Stock Exchange, and clearinghouses help people invest, raise capital, and manage risk. ICE’s data services and execution capabilities provide information, analytics, and platforms that help customers streamline processes and capitalize on opportunities.

Circle, a global financial technology firm, enables businesses to harness the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide. The company 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.

This strategic partnership between ICE and Circle represents a significant step forward in the integration of stablecoins into mainstream financial markets. By leveraging the strengths of both companies, the collaboration aims to drive innovation and create new opportunities for customers in the rapidly evolving digital currency landscape. The potential integration of stablecoins and real-world tokenized products into exchange settlement systems reflects the growing acceptance and trust in digital currencies as a viable alternative to traditional financial instruments. This collaboration is expected to pave the way for further advancements in the use of stablecoins in capital markets, enhancing efficiency, transparency, and accessibility for market participants.