Bithumb and Circle Partner on Stablecoin and Digital Asset Infrastructure

South Korea's second-largest cryptocurrency exchange, Bithumb, has entered into a partnership with Circle, the issuer of the USDC stablecoin. The collaboration focuses on digital asset infrastructure and stablecoin technology.

The two companies signed a memorandum of understanding on Monday during a visit by Circle CEO Jeremy Allaire to Bithumb's headquarters in southern Seoul. Bithumb CEO Lee Jae-won also attended the signing.

Under the agreement, Bithumb and Circle will jointly evaluate ways to integrate technology, including multichain capabilities on the Bithumb platform and support for stablecoin infrastructure. They also plan to pursue initiatives aimed at deepening understanding of the stablecoin and broader digital asset ecosystem.

A Bithumb official said the MOU is significant as it lays the groundwork for continued cooperation in fostering a more transparent and regulation-friendly digital-asset market. The company stated it will continue supporting market development in line with regulatory standards.

A Circle official welcomed the agreement, expressing pleasure at working with Bithumb to explore opportunities in digital-asset infrastructure and stablecoin technology in the Korean market.