Binance Deal Gives Circle Stability Boost in Stablecoin Rumble

Binance's deal with Circle has given the stablecoin issuer a boost in its race against Tether, according to analysts.

The agreement will see Binance provide liquidity support for USDC, Circle's dollar-pegged stablecoin, which is now the second-largest stablecoin by market capitalization.

The partnership could potentially help Circle overtake Tether as the largest stablecoin issuer in the world, although it remains to be seen whether this will happen.