Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has entered into a memorandum of understanding (MoU) with Circle Internet Group to explore new product innovations using Circle’s USDC stablecoin and USYC tokenized money market fund.
The collaboration aims to leverage the capabilities of these digital assets to enhance ICE’s existing offerings across its various markets and services.
NYSE ICE and Circle To Develop New Solutions Using Stablecoin
The partnership between NYSE’s ICE and Circle is designed to integrate Circle’s stablecoin, USDC, and the tokenized money market fund, USYC, into ICE’s range of services, including derivatives exchanges and clearinghouses.
According to Lynn Martin, President of the NYSE, the collaboration will provide significant opportunities for Circle’s stablecoins to be used more extensively in capital markets.
Martin stated, “We believe Circle’s regulated 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.” The two companies will work together to explore potential use cases for USDC and USYC, which are intended to offer stability and efficiency in financial markets.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
