Binance Invests $100 Million in Circle as 5-Year USDC Push Targets Tether
Updated
Updated · CNBC · Sep 22
Binance Invests $100 Million in Circle as 5-Year USDC Push Targets Tether
3 articles · Updated · CNBC · Sep 22
Summary
$100 million from Binance will buy Circle shares at $80.84 each under a deal that puts USDC in front of the exchange's global user base for five years.
Circle will pay Binance a monthly incentive fee tied to USDC balances, aligning the exchange's economics with wider adoption of the stablecoin.
The partnership is aimed at accelerating USDC beyond its U.S.-heavy footprint and challenging Tether more directly in international crypto trading.
USDT still dominates that race with about $183 billion in circulation versus roughly $75 billion for USDC, while Circle pitches regulation, transparency and payments use.