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Circle, Intercontinental Exchange to explore stablecoin integration

Stablecoin issuer Circle and Intercontinental Exchange (ICE), the company that operates the New York Stock Exchange (NYSE) among others and provides clearinghouse services, are collaborating to explore stablecoin integra...

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Circle, Intercontinental Exchange to explore stablecoin integration

Stablecoin issuer Circle and Intercontinental Exchange (ICE), the company that operates the New York Stock Exchange (NYSE) among others and provides clearinghouse services, are collaborating to explore stablecoin integration in ICE’s operations.

The companies will explore the potential integration of Circle’s US dollar stablecoin (USDC) and its US Yield Coin (USYC) into ICE’s derivatives exchanges, clearinghouses, data services and other systems, under a memorandum of understanding (MoU) announced March 27.

Lynn Martin, president of the New York Stock Exchange, issued this statement alongside news of the collaborative partnership:

“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.”

The potential integration of stablecoins and real-world tokenized products into exchange settlement systems follows Nasdaq announcing 24-hour weekday trading starting in 2026 and the New York Stock Exchange’s plan to extend trading hours during the week as traditional financial markets shift toward a more global orientation.

Stablecoin market breakdown by top issuers. Source: RWA.XYZ

Related: ‘Stablecoin multiverse’ begins: Tether CEO Paolo Ardoino

Stablecoins emerge as store-of-value in developing regions

According to Bitso’s “Crypto Landscape in Latin America 2024” report, stablecoins, including Tether’s USDt (USDt) and Circle’s USDC, accounted for 39% of crypto purchases in the region, with USDC accounting for 24% of the total stablecoin volume.

The report added that stablecoins have become a store of value against rapidly depreciating local currencies due to significant inflation pressures.

A 2023 report from Chainalysis found that stablecoins comprised the vast majority of crypto value received in the Latin American region, where individuals preferred the tokenized fiat instruments to Bitcoin (BTC) as a store of value.

USDC was the most widely held and transferred crypto in Latin America. Source: Bitso

The low transaction costs, ease and speed of cross-border transfers make stablecoins ideal for remittances and international business.

These features led to a sharp rise in stablecoin adoption in 2024. According to a January 2025 report from CEX.IO, stablecoin transfer volumes surpassed the combined volume of Visa and Mastercard in 2024.

Stablecoins recorded $27.6 trillion in transfer volume during 2024, eclipsing the combined volume of Visa and Mastercard by 7.7%.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

Why this matters

This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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