💲 Binance invested $100 million in Circle
The exchange acquired 1.24 million shares of the USDC issuer in a private placement at $80.84 per share, 5% below the market price. Binance became a minority shareholder and will not be able to sell the shares for two years.
The companies signed a five-year agreement instead of the arrangements made for 2024 and 2025. Binance will expand the promotion and integration of USDC on its platform, primarily in emerging markets. Circle will provide services for storing and using the stablecoin.
“Circle is developing USDC, Arc, and infrastructure that is changing cross-border money movement. Our $100 million investment and five-year commitments are a long-term bet. [...] A reliable digital dollar should not be a privilege. It should be available to everyone who has a phone,” said Binance co-CEO Richard Teng.
$USDC
$BNB
#Circle
#BİNANCE
The exchange acquired 1.24 million shares of the USDC issuer in a private placement at $80.84 per share, 5% below the market price. Binance became a minority shareholder and will not be able to sell the shares for two years.
The companies signed a five-year agreement instead of the arrangements made for 2024 and 2025. Binance will expand the promotion and integration of USDC on its platform, primarily in emerging markets. Circle will provide services for storing and using the stablecoin.
“Circle is developing USDC, Arc, and infrastructure that is changing cross-border money movement. Our $100 million investment and five-year commitments are a long-term bet. [...] A reliable digital dollar should not be a privilege. It should be available to everyone who has a phone,” said Binance co-CEO Richard Teng.
$USDC
$BNB
#Circle
#BİNANCE
