The Intercontinental Exchange, the New York Stock Exchange parent company, said it plans to explore using Circle’s Stablecoin and tokenized assets to produce new products, joining a roster of traditional financial financials that drive the crypto under the Trump administration.
According to an agreement announced on Thursday, two companies will see how the Circle’s USDC Stablecoin and USYC tokenized Money Market Fund can be integrated with derivatives exchange, clearinghouse and other services.
“We believe that the regulated stablecoins of the circle and tokenized digital currency can play a bigger role in capital markets because digital currencies have become more trusted by market participants as an acceptable -acceptable equivalent of the US dollar,” said Lynn Martin, president of the New York Stock exchange in a statement. “We are excited to explore potential use cases for USDC and USYC in ICE markets.”
The USDC is the second largest stablecoin, which rides in the USDT of Tether. It has a $ 60 billion market capitalization and fully na -back by US government security and cash equivalent. USYC is a fund token in the currency market issued by Hashnote, which obtained By circle earlier this year.
ICE is the latest example of US financial behemoths applying digital assets, stablecoins and tokenization as headwinds of regulation in the crypto industry that fall under Trump management.
In recent days, the Fidelity Manager manager has been filed in Launch a tokenized fund in the currency market and has been reported working on releases a stablecoinWhile Derivatives Exchange CME Group said it was a test Tokenization In the private distribution of Google Cloud Ledger, which aims to launch new services next year. Tokenization is the process of placing financial instruments such as bonds, funds and other security on blockchain metals to pursue operations.
Martin Foreshadowed The company’s potential push for digital assets in May in a discussion of the Consensus 2024 panel, saying that the exchange would be considered the offer of crypto trading if the US regulation picture was clearer.
