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[SITUATION] · [QUIET] · [BUSINESS]

3 clusters · 50 sources · 21 days · First seen · Last updated

Circle launch, expansion of cirBTC, and Binance investment

Overview

Circle has introduced cirBTC, a wrapped Bitcoin token designed to provide 1:1 BTC-backed liquidity for programmable networks like Ethereum. The token allows users to engage in decentralized finance (DeFi) activities, such as trading and lending, without selling their native Bitcoin. To ensure transparency, Circle utilizes Chainlink Proof of Reserve to verify that the circulating supply of cirBTC is backed by Bitcoin held in segregated reserve accounts at Circle National Trust. Following the token launch, Circle expanded its offerings by introducing a Bitcoin-collateralized lending service tailored for institutional clients via the Circle Mint platform. Through this service, eligible institutions can mint cirBTC to use as collateral on third-party DeFi protocols, such as Morpho, to access USDC liquidity. While Circle manages the minting and collateralization process, loan terms and interest rates are set by the external lending markets. This institutional service specifically excludes clients based in New York. In September 2026, Binance invested approximately $100 million in Circle Internet Group through a private placement of 1.24 million Class A shares at $80.84 per share, a 5% discount to the market price. This deal includes a five-year strategic partnership to promote the USDC stablecoin across Binance’s global platform, particularly in emerging markets. Under this agreement, Circle will provide infrastructure services, while Binance receives monthly incentives tied to qualifying USDC balances. Binance is subject to a two-year restriction on selling or transferring these shares, though it retains voting rights. Binance co-CEO Richard Teng described the investment as a “long-duration conviction” in the partnership. The collaboration has significantly impacted trading activity. Since late 2024, USDC-quoted spot markets on Binance have grown from 140 to 329, with monthly trading volumes rising from a range of $20 billion–$40 billion to consistently exceeding $80 billion.

Entities

Circle · Binance · USDC · Jeremy Allaire · Richard Teng

Claims

What the coverage asserts, and how many sources carry each claim.

Timeline

  1. [BUSINESS] 8 sources
    Binance invests $100 million in Circle to expand USDC distribution

    Binance has invested $100 million in Circle and signed a five-year deal to expand USDC usage, aiming to challenge Tether’s USDT dominance in emerging markets.

  2. [BUSINESS] 38 sources
    Binance invests $100 million in Circle to expand USDC adoption

    Binance has invested $100 million in Circle and renewed a five-year partnership to expand USDC adoption, particularly in emerging markets.

  3. [TECHNOLOGY] 4 sources
    Circle launches cirBTC wrapped Bitcoin token

    Circle has launched cirBTC, a 1:1 wrapped Bitcoin token on Ethereum that uses Chainlink Proof of Reserve and segregated custody to provide transparent, verifiable Bitcoin liquidity for DeFi.

Sources

ad-hoc-news.de · bitcoinethereumnews.com · bitcoinke.io · bitcoinsistemi.com · bitnewsbot.com · blockcast.it · blockchainreporter.net · blockmedia.co.kr · blockonomi.com · brickinfotv.com · coin-turk.com · coincu.com · coindeskjapan.com · coindoo.com · coinedition.com · cointribune.com · cointrust.com · criptoinforme.com · crypto-news-flash.com · crypto.news · cryptobreaking.com · cryptobriefing.com · cryptonomist.ch · cryptoslate.com · efficacynews.africa · exame.com · financije.hr · fortune.com · infoquest.co.th · innovation-village.com · insidebitcoins.com · koinbulteni.com · kriptoworld.hu · livebitcoinnews.com · merca2.es · mobile.valor.com.br · mycryptoparadise.com · neweconomy.jp · newsable.asianetnews.com · nosmokesport.com · prtimes.jp · pymnts.com · retailwit.com · siamblockchain.com · spacemoney.com.br · tokenpost.com · tokenpost.kr · usaherald.com

This summary has been updated 4 times: see revision history