ICE and Circle Sign Agreement to Explore Financial Innovation Using USDC and USYC Stablecoins

Intercontinental Exchange Inc. (NYSE: ICE) and Circle Internet Group, Inc. announced a memorandum of understanding (MoU) to explore joint development of new financial products based on Circle’s digital assets: USDC (USD Coin) and USYC (US Yield Coin). The initiative aims to bring stablecoin-based innovation to ICE’s global network of markets and services.

According to Circle, USDC — a fully reserved, dollar-pegged stablecoin — has over $60 billion in circulation as of March 26, 2025. The coin is backed by liquid assets and is redeemable 1:1 for U.S. dollars. USYC, meanwhile, represents a tokenized money market offering.

Lynn Martin, President of the New York Stock Exchange, emphasized that digital currencies like USDC and USYC could gain broader acceptance as reliable dollar equivalents within capital markets. ICE and Circle plan to examine integration opportunities across derivatives exchanges, clearinghouses, and data services.

Circle CEO Jeremy Allaire highlighted ICE’s reach as a pathway to major new use cases for stablecoins, reinforcing Circle’s goal to expand digital finance through trusted infrastructure and partnerships.

This collaboration builds on Circle’s growing network of applications for USDC and reflects ICE’s commitment to exploring digital transformation in finance.