Circle Expands USDC Adoption with Bybit and Ant Group合作

The issuer of the stablecoin USDC, Circle, has entered into a revenue-sharing agreement with the cryptocurrency exchange Bybit, as reported by sources. Concurrently, the fintech giant Ant Group is preparing to integrate the asset into its own blockchain platform.

Details of the agreement with Bybit have not been disclosed. However, such partnerships are part of Circle’s strategy to promote USDC. The issuer shares a portion of the interest revenue generated from its reserves with platforms, encouraging the adoption of the stablecoin.

Circle has similar arrangements with other major platforms. For instance, the company shares 50% of the revenue from the reserves backing USDC with Coinbase. Binance received a one-time payment of $60.25 million and continues to receive monthly payments. The amount of these payments is contingent on the USDC balance on the exchange and tied to the SOFR rate.

One source from CoinDesk reports that Circle has revenue-sharing agreements with several trading platforms.

The collaboration with Ant Group will grant USDC access to the company’s global payment infrastructure. The international division, Ant International, aims to utilize the stablecoin for treasury operations and cross-border payments.

This integration will take place once USDC obtains the necessary regulatory approval in the United States. No specific timeline has been established yet.

In the previous year, Ant processed transactions exceeding $1 trillion, a third of which occurred on its blockchain. According to Bloomberg sources, Ant International is also applying for licenses to operate with stablecoins in Singapore and Hong Kong.

These developments come amid a rising interest in the sector, which analysts from Grayscale have dubbed the «summer of stablecoins.» Visa estimates that the monthly transaction volume in this asset class reaches $800 billion.

Circle has also found success. Following its IPO, the company’s shares (CRCL) skyrocketed from $31 to $181 by the end of June.

USDC’s market capitalization stands at $62.5 billion, while its primary competitor, USDT from Tether, has a valuation of $158 billion.

Additionally, on June 17, the US Senate passed the GENIUS Act, creating a legal framework for stablecoins. The legislation establishes requirements for reserves, AML procedures, and auditing standards.

For reference, Circle has applied to the US Office of the Comptroller of the Currency for a national trust bank charter.