Morning Edition · Sunday, September 27, 2026Published at 1:54 AM EDT · New York
The world's largest exchange becomes a shareholder in its stablecoin supplier, while Tether's $183.75 billion float still dwarfs USDC's $75.39 billion.

Binance has taken a $100 million equity position in Circle and agreed a five-year arrangement to distribute USDC to its users. The exchange that routes more spot volume than any competitor is now a shareholder in the company that issues the…
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Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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