Circle announced on Thursday, February 5th that it has partnered with Polymarket, the largest on-chain prediction market by trading volume, to provide USD stablecoin payment infrastructure.
This partnership focuses on integrating Circle’s stablecoin $USDC As the primary collateral currency for trading on Polymarket. Prediction markets running on Polygon currently use Polygon Bridged. $USDC ($USDC.E) But I’m going native $USDC “In the next few months.”
Circle supply is $70.77 billion; $USDC It is the second largest stablecoin by market capitalization after Tether’s USDT.
Circle said the partnership focuses on making polymarket payments more “institutionally aligned” as trading activity increases. According to DefiLlama, in the past 24 hours, Polymarket processed $113 million in trades, bringing the total amount fixed on the platform to $337.5 million.
“Circle is building some of the most important infrastructure in cryptocurrencies, and partnering with them is an important step in powering prediction markets,” said Shayne Coplan, Founder and CEO of Polymarket. “Use it $USDC As the number of participants on our platform continues to grow, we support consistent dollar-denominated payment standards that enhance market integrity and trust. ”
record growth
This partnership comes as the prediction markets sector continues to grow and attract more users and liquidity. The top three prediction marketplaces Polymarket, Kalshi, and Opinion have all seen record monthly trading volumes over the past three months. In January, The Defiant reported that the total TVL across cryptocurrency-focused prediction markets reached a new high of over $550 million.
The news comes after Polymarket began implementing trading fees for the first time earlier this year. That same week, Polymarket also expanded its reach to institutional investors, becoming the exclusive predictive market partner of The Wall Street Journal and Dow Jones.
According to DefiLlama, the platform generated approximately $2.6 million in fees and $1.6 million in revenue last month. In the first few days of February, fees and revenue amounted to approximately $708,000 and $459,000, respectively.
