The People Want Stables

Driven by demand from DeFi and international transactions, there is growing demand for fiat-backed stablecoins like Tether and USDC.

As part of their commitment to meet this growing market demand, USDC parent group Circle announced their partnership with Intercontinental Exchange (ICE) to develop stablecoin-backed financial products. The two entities have signed a Memorandum of Understanding (MOU) to explore integrating USDC and Circle's US Yield Coin (USYC) into ICE's financial infrastructure. This collaboration aims to develop innovative products and solutions across ICE's exchanges, clearinghouses, data services, and other markets.

This partnership signifies a growing interest in leveraging stablecoins and tokenized assets to innovate within traditional financial markets, potentially transforming aspects of trading, settlement, and liquidity management.

Conversely, demand for Tether (USDT) (particularly in China and throughout the Asian-Pacific regions) has surged significantly due to its adoption in cross-border transactions, offering a stable and efficient alternative to traditional payment methods. Traditional cross-border transactions can be slow and costly, involving multiple intermediaries and high fees. USDT offers users a lower-cost, faster, and all around superior payment solution.