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Binance invests $100 million in Circle to expand USDC adoption
Binance has announced a $100 million equity investment in Circle Internet Group, the issuer of the USDC stablecoin. The investment was executed through a private placement of 1,237,011 Class A common shares at a price of $80.84 per share, representing a 5% discount to the market price prior to the transaction closing.
Alongside the investment, the two companies have entered into a renewed five-year strategic partnership. This agreement aims to expand the global adoption and integration of USDC, with a specific focus on increasing accessibility in emerging markets. Under the terms of the deal, Binance will lead the promotion and distribution of USDC across its platform, while Circle will provide the necessary infrastructure services to support the holding and usage of the stablecoin.
As part of the commercial arrangement, Circle will pay Binance monthly incentive fees based on the volume of USDC held through Circle’s infrastructure on the Binance platform. The agreement also includes a restriction preventing Binance from selling, transferring, or hedging the acquired shares for a period of up to two years, though Binance retains its voting rights.
Entities
Aave · Binance · Circle · Circle Internet Group · Circle Internet Group, Inc. · Coinbase · Jeremy Allaire · Morpho · Richard Teng · USDC
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 18 SOURCES] The companies entered a five-year strategic partnership to promote USDC adoption, specifically in emerging markets. blockcast.it · bitnewsbot.com · financije.hr · valor.globo.com · www.bitcoinsistemi.com · +12 more
- [● 17 SOURCES] The shares were purchased at a price of $80.84 per share, representing a 5% discount to the market price. blockcast.it · bitnewsbot.com · financije.hr · valor.globo.com · www.bitcoinsistemi.com · +11 more
- [● 12 SOURCES] Binance is subject to a two-year restriction on selling, transferring, or hedging the acquired Circle shares. financije.hr · www.bitcoinsistemi.com · crypto.news · www.ad-hoc-news.de · usaherald.com · +6 more
- [● 5 SOURCES] Coinbase launched fixed-rate USDC loans backed by cbBTC on its Base network via Morpho Midnight. nosmokesport.com · koinbulteni.com · www.tokenpost.com · cryptobriefing.com · blockonomi.com
- [● 4 SOURCES] Circle has launched a new Bitcoin-collateralized lending service for institutional clients using cirBTC. zombit.info · www.cryptobreaking.com · coinedition.com · www.coincu.com
- [● 17 SOURCES] Binance invested $100 million in Circle through a private placement of Class A common shares. blockcast.it · bitnewsbot.com · financije.hr · valor.globo.com · www.bitcoinsistemi.com · +11 more
- [● 10 SOURCES] Circle will pay Binance monthly incentive fees based on the amount of USDC held through its infrastructure. financije.hr · www.bitcoinsistemi.com · coin-turk.com · crypto.news · www.ad-hoc-news.de · +5 more