On September 22, Binance and stablecoin issuer Circle announced an expansion of their strategic cooperation: Binance will take an approximately $100 million strategic equity stake and sign a new five-year commercial agreement, focusing on promoting, increasing awareness of, and integrating $USDC in emerging markets; Circle will provide infrastructure services that support holding and using USDC. The equity closing was completed on September 17—Circle issued 12.37011 million Class A common shares (CRCL) to Binance in a private placement at a subscription price of $80.84 per share. The share transfer restrictions last for up to about two years.
The new agreement replaces the prior commercial arrangement. Public information indicates that Circle will pay Binance a monthly incentive fee based on the relevant USDC balances, while Binance will accelerate the promotion of USDC on its platform. Both sides emphasized expanding the accessibility of a credible digital dollar for emerging markets.
#USDC #Circle #币安 does not constitute investment advice
The new agreement replaces the prior commercial arrangement. Public information indicates that Circle will pay Binance a monthly incentive fee based on the relevant USDC balances, while Binance will accelerate the promotion of USDC on its platform. Both sides emphasized expanding the accessibility of a credible digital dollar for emerging markets.
#USDC #Circle #币安 does not constitute investment advice
