Intercontinental Exchange Inc. (NYSE:ICE), the operator of the New York Stock Exchange, has signed a memorandum of understanding with Circle (CRYPTO: USDC) to assess the use of Circle's USDC stablecoin and tokenized yield product, USYC.

Under the agreement announced Thursday, ICE and Circle will jointly explore how USDC—a dollar-pegged stablecoin with over $60 billion in circulation—can be applied across derivatives, clearing, and data services offered by ICE.

ICE is also reviewing Circle's US Yield Coin (USYC), a tokenized product designed to deliver yield from U.S. money market instruments.

Lynn Martin, President of the New York Stock Exchange, emphasized stablecoins’ increasing role in capital markets.

"We believe Circle's stablecoins and tokenized digital currencies can play a larger role in capital markets as digital currencies become more trusted by market participants as an acceptable equivalent to the US Dollar," Martin said.

Circle CEO Jeremy Allaire added that ICE's market reach could help drive broader adoption of USDC in regulated financial environments.

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"ICE's reputation and global network across markets offer a unique pathway for Circle to integrate USDC into major new use cases," Allaire said.

The MoU outlines plans to explore USDC and USYC integration across ICE's ecosystem, which includes derivatives exchanges and clearinghouses.

USDC, launched in 2018, is backed by a mix of cash and short-term U.S. Treasuries, primarily through Circle's SEC-registered Reserve Fund.

According to Circle, the token is accessible to around 600 million wallets and supports use cases spanning payments, crypto trading, and dollar-denominated storage.

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