Binance Invests Heavily in Stablecoin Issuer Circle

Binance has made a significant investment in Circle, purchasing a $100 million stake in the stablecoin issuer.

The deal deepens the crypto exchange's ties with the company behind USDC, a major dollar-pegged token with a market capitalization of nearly $75 billion.

Circle disclosed that on September 17, it issued and sold roughly 1.24 million shares to Binance at a purchase price of $80.84 per share.

The expanded commercial arrangement has a five-year term and includes a monthly incentive fee paid by Circle to Binance.