Binance and Revolut Make Moves in Crypto Market

Binance has made significant strides in its quest for a regulatory home in Europe. The world's largest cryptocurrency exchange has applied to operate in Greece under the EU's Markets in Crypto-Assets Regulation scheme.

The company's co-CEO, Richard Teng, attributed Greece's labor force and security profile as key factors that gave it an edge over larger financial centers.

Circle, another prominent player in the cryptocurrency space, has reported a boost in fourth-quarter revenue. The surge can be attributed to the increased adoption of its stablecoin, USDC, which saw a 72% rise in circulation compared to the previous year.

The favorable regulations, including the GENIUS Act signed into law by President Donald Trump last year, have contributed to the growing popularity of dollar-pegged stablecoins like USDC.

In related news, Revolut is testing a crypto token pegged to the British pound as part of the Financial Conduct Authority's 'sandbox' program. The trial will involve three small companies but does not include big high-street lenders. This move marks a cautious approach by Britain's larger financial firms towards stablecoins.