Binance Drops $100M on Circle, Secures Five-Year USDC Partnership
Binance has made a significant investment in Circle, the issuer of the popular USDC stablecoin. The exchange has put $100 million into Circle through a private placement, buying 1,237,011 Class A shares at $80.84 each.
The deal closed on September 17 and was announced on September 22. Binance will retain voting rights despite a two-year transfer restriction on the shares.
This investment boosts Circle's fundraising efforts and is likely to accelerate USDC adoption across Binance's centralized exchange (CEX) and the wider crypto and DeFi ecosystem.