The owner of the New York Stock Exchange and one of the world’s largest stablecoin operators are to work together to explore how the currencies and tokenised funds might be deployed on public market infrastructure
Intercontinental Exchange (ICE) and Circle Internet Group have announced plans to investigate how to use stablecoins and other products within ICE’s derivatives exchanges, clearinghouses, data services, and other markets.
Lynn Martin, president of the New York Stock Exchange, said the group was excited to explore the potential use cases for Circle’s USDC and tokenised money market offering US Yield Coin (USYC) across ICE’s markets.
“We believe Circle’s stablecoins and tokenised 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,” Martin said.
The partnership aims to develop new products and solutions, while delivering innovation and build new markets and product offerings.
“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.
Elsewhere, Circle announced plans to deepen its commitment to Japan, with local bank SBI VC Trade initiating a full-scale launch of USDC on March 26, alongside plans by exchanges Binance Japan, bitbank, and bitFlyer to list and distribute USDC soon.
The stablecoin operator had already announced UCDC would be the first stablecoin in Japan through the deal with SBI at Japan Fintech Week in early March.
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, over $60bn of USDC is in circulation, as of March 26, 2025.
