Binance bets $100 million on Circle: USDC partnership extends for 5 years: Details
Binance announced an investment of $100 million in “Circle,” the issuer of the stablecoin USDC, alongside the signing of a new commercial agreement extending for five years to boost the use of the stable digital currency.
Under the deal, Binance bought about 1.237 million shares of Class A in “Circle” at $80.84 per share, as part of a private placement that closed on September 17.
Binance also committed not to sell the shares, transfer them, or hedge against them for up to two years, while retaining voting rights.
Long-term partnership on USDC:
Binance announced an investment of $100 million in “Circle,” the issuer of the stablecoin USDC, alongside the signing of a new commercial agreement extending for five years to boost the use of the stable digital currency.
Under the deal, Binance bought about 1.237 million shares of Class A in “Circle” at $80.84 per share, as part of a private placement that closed on September 17.
Binance also committed not to sell the shares, transfer them, or hedge against them for up to two years, while retaining voting rights.
Long-term partnership on USDC: