Binance Takes $100M Stake in Circle as USDC Partnership Deepens

Circle Internet Group has secured $100 million from Binance in exchange for over 1.2 million Class A shares, according to an SEC filing.

The deal expands their partnership around USDC, Circle's dollar-backed stablecoin, and includes a five-year agreement with new commercial arrangements.

Under the terms of the deal, Circle will pay Binance a monthly incentive fee based on the USDC held through its Modular Smart Contract Wallet infrastructure, while Binance promotes USDC on its platform.

The two companies have used the deal to deepen their partnership, which is expected to widen adoption of the stablecoin and support Circle's core business.