Binance Buys $100M Stake in Circle
@binance has invested $100 million in @circle as part of a new five-year partnership to expand $USDC adoption across its platform.
Circle issued Binance 1.24 million Class A shares at $80.84 each in a private placement that closed on September 17.
Under the expanded deal, Binance will promote USDC while Circle will pay Binance a monthly incentive fee tied to the amount of USDC held through its Modular Smart Contract Wallet infrastructure.
Binance’s shares are subject to a two-year lock-up, with customary exceptions.
The new agreement replaces the companies’ previous USDC partnerships and is designed to expand access to dollar-based financial services globally.
@binance has invested $100 million in @circle as part of a new five-year partnership to expand $USDC adoption across its platform.
Circle issued Binance 1.24 million Class A shares at $80.84 each in a private placement that closed on September 17.
Under the expanded deal, Binance will promote USDC while Circle will pay Binance a monthly incentive fee tied to the amount of USDC held through its Modular Smart Contract Wallet infrastructure.
Binance’s shares are subject to a two-year lock-up, with customary exceptions.
The new agreement replaces the companies’ previous USDC partnerships and is designed to expand access to dollar-based financial services globally.
