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 issuer of stablecoin USDC. The investment includes a private placement of shares and an expanded five-year commercial agreement that replaces previous agreements from late 2024 and early 2025. Under the deal, Binance received over one million Class A common shares at $80.84 each through a private offering filed with the SEC. The per-share price was below Circle's market value at the time of sale. Shares are subject to a two-year lockup period during which they cannot be sold or transferred without restrictions. The partnership also includes new financial incentives for Binance based on USDC holdings via Circle’s Modular Smart Contract Wallet, in exchange for promotional efforts across Binance platforms. The deal strengthens ties between the stablecoin issuer and one of its largest trading venues.
Tickers: $CRCL
Topics: Cryptocurrency Investment Regulatory Filings Stablecoins