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Binance Invests $100 Million in Circle to Boost USDC Adoption

Guavy AI Editorial Team
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Binance has made a significant move in the stablecoin market by investing $100 million in Circle, the issuer of USDC. The exchange acquired 1.237 million shares at $80.84 each and signed a new five-year business agreement with Circle.

The investment aims to boost the adoption of USDC on Binance, particularly in emerging markets where Tether's (USDT) dominance is strong.

Circle relies heavily on USDC for revenue, which generated $701 million in the second quarter. The company will pay a commission to Binance each month based on USDC balances held through its wallet infrastructure.

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