The move aims to allow institutional users the additional choice to hold USYC and cUSDO off-exchange, access to the Binance platform, and receive yield on their pledged collateral
The redesigned service uses the existing CLSSettlement platform, enabling CCPs to connect and submit bilateral settlement instructions on behalf of their clearing members
The definitive agreement is expected to close in the coming months, subject to regulatory approvals, applicable employee requirements and customary conditions
The authorities will continue to adopt a coordinated approach as they progress towards publication of a final policy statement in the second half of 2025
Year-to-date for volume outstanding also increased, rising 3 per cent to €738.12 billion for 2025, compared to €717.19 billion for the equivalent period in 2024