Binance Invests $100M in Circle to Promote Global USDC Adoption
Binance has invested $100 million in Circle Internet Group, Inc., expanding its strategic partnership and renewing their agreement for five years. The new deal focuses on promoting USDC globally, particularly in emerging markets. Binance purchased $100 million worth of shares in Circle Class A common stock at a 5% discount to the market price.
Circle's Co-founder, Chairman, and CEO Jeremy Allaire said that together with Binance, they see opportunities to leverage USDC for dollar access, supporting savings and investment with digital asset products. The partnership aims to make the USDC available to anyone with a phone, building an inclusive digital economy.
Binance's co-CEO Richard Teng stated that their $100 million investment and five-year commitment represent long-duration conviction in Circle's mission. Binance is helping build a more transparent, compliant, and inclusive digital economy.