The derivatives exchange Bitget is ready to go ane of the first exchanges to listing USD Money (USDC) every bit collateral for trading crypto derivatives.

The development comes courtesy of a strategic collaboration between the Singaporean crypto derivatives trading service and USDC stablecoin issuer Circle, as reported past Crowdfund Insider on Mon.

Bitget volition support USDC margins for Quanto Swap Contract trading equally part of the partnership, a motility the exchange says will provide more than liquidity for the market. USDC now joins Bitcoin (BTC), Ether (ETH), EOS, and XRP as accepted margins for Quanto Swap contracts.

Bitget launched Quanto Swap contracts back in April. Quanto Bandy contracts allow traders to utilize one or more cryptocurrencies every bit margins for cross-currency trades.

Quanto Swaps are said to solve the problems related to inverse contracts as well as Tether (USDT)-paired contracts, peculiarly in the area of capital utilization and costs.

Since Quanto Swaps are cross-currency trades with multiple margins, traders can switch markets without having to catechumen cryptocurrencies.

The collaboration with Circle will also reportedly scale Bitget's trading channels. USDC will also exist bachelor for purchase on the exchange via debit and credit card payment channels, among others.

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CoinMarketCap data ranks Bitget as the eighth-largest crypto derivatives exchange, with a 24-60 minutes volume of almost $four billion as of the fourth dimension of writing.

Back in March 2022, the platform began working towards expanding its accomplish to the U.s., securing a license from the U.S. Financial Crimes Enforcement Network. At the time, its 24-hr volume was well-nigh $one billion.

The exchange was also amongst a listing of platforms that were granted a temporary exemption from Singapore's crypto commutation licensing authorities.

In an interview with Cointelegraph earlier in July, Bitget CEO Sandra Lou stated that crypto exchanges must prioritize regulatory compliance. Indeed, financial regulators across the globe are increasing their scrutiny of exchanges as governments push button more than stringent policies.