Binance invested $100 million in Circle 💰
Binance acquired a stake in Circle, the company that issues $USDC . The deal totaled $100 million — the exchange received 1.24 million shares at $80.84 per share. The transaction was closed on September 17, and it was announced today.
At the same time, the companies signed a new agreement for 5 years. Binance will more actively promote and integrate $USDC on its platform, while Circle will pay the exchange a monthly fee depending on the volume of $USDC in its infrastructure.
At the same time, Binance will not be able to sell or hedge the shares it purchased for up to two years, although it will retain voting rights.
For Circle, this means a closer link with one of the largest crypto exchanges, while Binance gains a stake in the issuer of one of the biggest dollar-backed stablecoins.
#Binance #Circle #USDC $USDC
Binance acquired a stake in Circle, the company that issues $USDC . The deal totaled $100 million — the exchange received 1.24 million shares at $80.84 per share. The transaction was closed on September 17, and it was announced today.
At the same time, the companies signed a new agreement for 5 years. Binance will more actively promote and integrate $USDC on its platform, while Circle will pay the exchange a monthly fee depending on the volume of $USDC in its infrastructure.
At the same time, Binance will not be able to sell or hedge the shares it purchased for up to two years, although it will retain voting rights.
For Circle, this means a closer link with one of the largest crypto exchanges, while Binance gains a stake in the issuer of one of the biggest dollar-backed stablecoins.
#Binance #Circle #USDC $USDC
