Binance Invests $100 Million in Circle to Boost USDC
- Binance has invested $100 million in Circle as part of a five-year agreement.
- Circle issued Binance over 1.2 million shares at $80.84 each during a private placement on Sept. 17.
- Under the deal, Circle will provide monthly incentive fees based on USDC held via its Modular Smart Contract Wallet.
- Binance is restricted from selling or transferring these shares for up to two years but retains voting rights.
- The arrangement replaces previous agreements from November and August of the prior year.
This investment aims to enhance the promotion of USDC on Binance’s platform, with both parties having options for early termination under specific conditions.
With this deal, Binance secures a substantial stake in Circle while committing to promote USDC, reflecting its strategic focus on stablecoins and their growing role in crypto markets.
