[Circle and LianLian Global Collaborate to Explore Stablecoin-Based Payment Infrastructure] Circle and licensed cross-border payment service provider LianLian Global have signed a memorandum of understanding to explore collaboration on stablecoin-based payment infrastructure. The partnership includes: modernizing payment infrastructure and fund management; improving cost efficiency for merchants and streamlining settlements; exploring interoperability with the Circle Payments Network; identifying opportunities in emerging markets; and leveraging Circle's Layer 1 blockchain, Arc, to support LianLian Global's network payment use cases.