Intercontinental Exchange, the parent company of the New York Stock Exchange, has signed an agreement with Circle Internet Financial to explore using USDC stablecoin and USYC, a tokenized money market fund, in traditional financial markets.

The collaboration aims to evaluate applications of Circle’s digital assets across ICE’s derivatives exchanges, clearinghouses, and market data services.

ICE’s move reflects a broader trend of major financial institutions integrating stablecoins and tokenized assets into their operations.

“We believe Circle’s stablecoins and tokenized digital currencies can play a larger role in capital markets,” said Lynn Martin, president of the NYSE.

Circle’s USDC (USDC), the second-largest stablecoin by market cap, is backed by U.S. government securities and cash-equivalent assets, maintaining a 1:1 peg to the dollar.

The company recently acquired Hashnote, the issuer of USYC, expanding its presence in tokenized finance.

The agreement highlights the growing institutional adoption of blockchain-based financial instruments. Other major firms, including Fidelity and CME Group, have also launched initiatives exploring stablecoin applications and asset tokenization.

ICE and Circle will assess potential use cases and regulatory frameworks before rolling out any new financial products based on digital assets.