Binance deal gives Circle a boost in stablecoin race with Tether, analysts say
The five-year deal could strengthen USDC’s reach in emerging markets, though Tether’s liquidity advantage remains hard to dislodge, analysts told CoinDesk.
Circle Internet Group's chief financial officer, Jeremy Fox-Geen, is stepping down after more than five years in the role. He will continue as CFO through the end of 2026 to support the transition. Fox-Geen played a vital role in Circle's growth, including navigating a $1.2 billion initial public offering last year.
Circle is the issuer of USDC, a dollar-pegged stablecoin with a market capitalization of about $75 billion. The company has entered a five-year deal that could strengthen USDC's reach in emerging markets. According to CoinDesk, this deal may give Circle a boost in its competition with Tether.
Tether's liquidity advantage remains hard to dislodge, analysts said. Circle co-founder Sean Neville is also stepping down as a director, effective immediately, for personal reasons.
Brief written by urgent.news from CoinDesk, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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