Circle Secures $100M from Binance to Expand USDC Reach
CoinRab reports Binance invested $100 million in Circle Internet Group and signed a new five-year commercial agreement focused on expanding USDC access across emerging markets. Binance purchased 1,237,011 Class A shares at $80.84 each in a private placement announced September 22, subject to a lockup of up to two years. The deal makes Binance a Circle shareholder and provides Circle another large distribution channel for its dollar-backed stablecoin. Circle will pay Binance a monthly fee to promote USDC on its platform under the five-year arrangement. The partnership aims to deepen USDC adoption globally, particularly in emerging markets.
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