Binance Bolsters Circle Partnership with $100M Investment

Binance has deepened its partnership with Circle through a $100 million investment and a five-year commercial agreement. The deal includes the purchase of 1,237,011 shares at $80.84 each, which represents a discount compared to Circle's market value before the deal closed.

The private placement brought in $100 million and closed on September 17. Binance can vote with its shares but agreed not to sell, transfer or hedge them for up to two years, with some exceptions.

Under the commercial side of the deal, Circle will pay Binance a monthly incentive based on USDC balances held through Circle's wallet infrastructure. The renewed partnership is expected to expand USDC's reach through Binance's global user base in the months ahead.