BlackRock and Circle Partnership Agreement Revealed: No Independent Stablecoin Issuance for the Next 4 Years
Circle's listing report document reveals that in the new Memorandum of Understanding (New MOU) signed with BlackRock in March 2025, BlackRock is designated as the preferred partner for its stablecoin reserves and commits not to issue a competing dollar payment stablecoin. Both parties agree that Circle will entrust at least 90% of its dollar custodial reserves (excluding bank deposits) to BlackRock for management, and BlackRock shall not develop or release its own stablecoin. The agreement is valid for four years.
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