Binance and Circle have entered into a strategic partnership around USDC to incorporate the stablecoin into products that can be used locally.
Circle chief executive Jeremy Allaire made the announcement with Binance chief Richard Teng on stage at ADGM's Abu Dhabi Finance Week on Wednesday. The deal is expected to expand adoption of the digital asset across broader financial services and the greater ecosystem.
“This is going to change the way money moves in the whole world," said Mr Allaire. USDCs are widely used in about 150 countries but are in the very early days of mainstream use globally, he added.
Aiding in that endeavour, Binance plans to make the decentralised US Dollar Coin (USDC) more available across its suite of products, which includes payments along with trading and saving, that reaches more than 240 million global users, according to the crypto platform.
In five years from now, the whole process of cross-border payments will be like the process of cross-border emails
Jeremy Allaire,
chief executive, Circle
USDC transactions, which can vary drastically in speed and take from seconds to up to around 20 minutes to process, are gaining greater adoption globally and have the potential to enable greater speeds and lower fees for cross-border payments, said Mr Allaire.
"We see the use of USDCs moving around the world the same way that we see the use of emails or messages moving around. I think in five years from now, the whole process of cross-border payments will be like the process of cross-border emails," he said, taking a matter of seconds.
Circle, whose USDC stablecoin is pegged to the dollar and manages about $40 billion in circulation, will additionally work with Binance to develop key relationships across the global financial and regulatory landscape, in addition to providing technology and liquidity tools.
Mr Allaire said what Circle finds in Binance is a "trusted client", who together can gain deeper integration into the banking sector and global financial infrastructure.
Mr Teng said that there is a need for "more governments to embrace this sector". Speaking at Abu Dhabi's financial centre about his previous employer at the Financial Services Regulatory Authority, he said ADGM was one of the first in the world to support the crypto agenda.
This will be carried further, he added, as a more crypto-friendly president will enter the White House in January, with the election of Donald Trump.
Mr Trump has introduced several pro-friendly crypto proposals, such as building a strategic Bitcoin reserve and a crypto advisory council.
Mr Teng said that if the US does set up a crypto reserve, this will help boost global adoption and open the door for a wider population. "Stablecoins are an important part of financial inclusion," he added.
Mr Trump's rally is believed to have helped Bitcoin surpass $100,000 for the first time last week, in a historic milestone as his election win continues to give momentum and positive sentiment to the idea of using decentralised currencies of all kinds.
His nomination of cryptocurrency advocate Paul Atkins to run the Securities and Exchange Commission is considered a major win for digital assets and their transactions across the world.
If you go
- The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
- The Double Tree by Hilton in Novosibirsk ( 7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
- The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as Altair-Tour ( 7 383 2125115 ) offer hiking and adventure packages.
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2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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