Binance has invested $100 million in Circle and expanded its strategic partnership with the stablecoin issuer through a new five-year commercial agreement focused on increasing access to USDC, particularly across emerging markets. The investment was made through a private placement of Circle Class A common stock at a purchase price reflecting a 5% discount to Circle’s market price before closing. Binance has also agreed to hold the shares for up to two years, subject to customary exceptions. Under the renewed agreement, Binance will promote, increase awareness of, and integrate USDC across its global platform, while Circle will provide infrastructure services supporting the holding and use of the stablecoin.
Also Read: Arcons Technology Uses billPort to Modernize Revenue Management for Wealth Firms
“Binance has built one of the largest and most dynamic platforms in the world for using digital currency, creating the internet’s largest financial super app, and becoming the most widely used wallet in the world for dollar stablecoins,” said Jeremy Allaire, Co-founder, Chairman and CEO of Circle. “Together, we see incredible opportunities to leverage USDC to expand dollar access, support savings and investment with innovative digital asset products, and reach people and businesses throughout global emerging markets.”
