Binance Invests $100M in Circle to Strengthen USDC Partnership
Binance, the world's largest cryptocurrency exchange by trading volume, has invested $100 million into Circle, the company behind the stablecoin USDC. The investment includes a private placement of shares and an expanded five-year commercial agreement that replaces previous arrangements set for Nov. 2024 and Aug. 2025. Under the deal, Binance received Class A common shares at $80.84 each through a private offering filed with the SEC on Sept. 17. The per-share price was below Circle's market value at that time, and Binance is restricted from selling or transferring these shares for up to two years unless specific conditions are met. The partnership also includes new financial incentives tied to USDC adoption through a modular smart contract wallet service provided by Circle. In return, Binance has agreed to promote the stablecoin on its platform more actively.
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