Circle has entered into a significant strategic partnership with BlackRock, announcing a Memorandum of Understanding (MOU) in March 2025. The agreement designates BlackRock as Circle’s preferred partner for managing its dollar-denominated stablecoin reserves. Under the terms of the agreement, BlackRock will oversee at least 90% of Circle’s reserve assets, excluding bank deposits. Importantly, BlackRock is prohibited from launching a competing dollar payment stablecoin during the partnership’s four-year duration. This collaboration underscores Circle’s long-term approach to strategic stablecoin management and its commitment to maintaining transparency in reserves.