Binance Invests Big in Stablecoin Issuer Circle

Binance has invested $100 million in Circle, the issuer of the stablecoin USDC. This investment is part of a five-year agreement between the two companies to expand access to USDC across emerging markets.

Under the terms of the deal, Binance will promote and integrate USDC on its platform, while Circle will provide infrastructure services for holding and using the digital currency.

The investment was made through a private placement of Class A common stock at a purchase price reflecting a 5% discount to the market price of CRCL prior to closing. Binance agreed not to transfer the shares for up to two years from the closing date, subject to customary exceptions.