Binance invests $100m in circle, extends USDC deal
1 min readBinance Holdings has invested $100 million in Circle Internet Group, as the crypto companies extend an existing partnership.
The world’s largest crypto exchange and the stablecoin giant have struck a new five-year agreement, which will see Circle pay Binance a monthly fee to promote its stablecoin USDC.
The deal sees Circle doubling down on its strategy of working closely with crypto exchange heavyweights to boost usage of USDC, which is the world’s second-largest stablecoin with a market value of about $75 billion. The company already works closely with Coinbase Global, which says it gets “a little over half of the economics from USDC” as part of an agreement that splits interest generated from the stablecoin.
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Circle first partnered with Binance in 2024, agreeing to pay the exchange a one-time fee of $60.25 million. Binance at that time said it would hold a portion of its treasury in USDC, according to a regulatory filing. In extending the arrangement, Binance will integrate USDC into existing and new savings and investment products, a spokesperson for the exchange said. Binance will also offer incentives such as lower fees on key USDC trading pairs.
“Together, we see incredible opportunities to leverage USDC,” Circle CEO Jeremy Allaire said in a statement.
Binance invested $100 million in Circle at $80.84 a share, a discount to market price. Circle’s stock rose as much as 3.3% to more than $97 during Tuesday morning trading in the US.
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