Binance pumps $100 million into Circle, strikes a 5-year cooperation deal
Binance has officially invested $100 million to acquire 1.237 million shares of Circle Class A at $80.84 per share through a private agreement, according to filings submitted to the SEC.
This partnership comes with a five-year commercial contract aimed at boosting the adoption of USDC globally, especially in dynamic and developing markets. Under the terms, Circle will pay a monthly incentive fee based on the eligible USDC balance on Binance, in return for Binance actively promoting and expanding the USDC ecosystem.
All Circle shares held by Binance will be locked from transfer, sale, or hedging for up to two years, although Binance will still retain voting rights.
This move not only turns Binance into a key distribution channel for USDC, but also makes the exchange a direct shareholder, further strengthening its strategic relationship with the issuer $USDC .
The article is for market gossip purposes only and is in no way investment advice. If you consider this financial guidance and end up chasing the top, your wallet could be left deflated like a flimsy cracker with no one taking responsibility!
#Binance #Circle #USDC #CryptoNews #CryptoInvestment
Binance has officially invested $100 million to acquire 1.237 million shares of Circle Class A at $80.84 per share through a private agreement, according to filings submitted to the SEC.
This partnership comes with a five-year commercial contract aimed at boosting the adoption of USDC globally, especially in dynamic and developing markets. Under the terms, Circle will pay a monthly incentive fee based on the eligible USDC balance on Binance, in return for Binance actively promoting and expanding the USDC ecosystem.
All Circle shares held by Binance will be locked from transfer, sale, or hedging for up to two years, although Binance will still retain voting rights.
This move not only turns Binance into a key distribution channel for USDC, but also makes the exchange a direct shareholder, further strengthening its strategic relationship with the issuer $USDC .
The article is for market gossip purposes only and is in no way investment advice. If you consider this financial guidance and end up chasing the top, your wallet could be left deflated like a flimsy cracker with no one taking responsibility!
#Binance #Circle #USDC #CryptoNews #CryptoInvestment