Binance Invests $100M in Circle to Boost USDC Adoption
Binance has invested $100 million in Circle through an equity sale of 1,237,011 Class A common shares at $80.84 each.
The deal is part of a five-year commercial agreement that sees Binance promote USD Coin (USDC) across its platform in exchange for a monthly incentive fee calculated as a percentage of USDC held through Circle's Modular Smart Contract Wallet infrastructure.
Circle will pay the fee to Binance, which cannot sell or transfer the shares for two years from the closing date. The restriction lifts earlier if Binance terminates the commercial arrangement under specific conditions.
This is the third iteration of a partnership between Binance and Circle in under two years. Binance co-CEO Richard Teng said the investment reflects a long-term view on dollar access, adding that 'a stable, trusted digital dollar should not be a privilege, it should be available to anyone with a phone.'