Binance has put $100 million into stablecoin creator Circle via a broadened five-year partnership aimed at advancing USDC on the cryptocurrency trading platform.
As per a Tuesday filing submitted to the United States Securities and Exchange Commission, Circle provided Binance with 1,237,011 Class A common stock shares at $80.84 per share through a private placement executed on September 17. The acquisition cost was discounted relative to Circle’s valuation prior to the finalization of the deal.
Yahoo Finance statistics indicated that CRCL shares listed on the New York Stock Exchange climbed over 1.3% during Tuesday premarket trading following a Monday closing price of $94.29 per share.
Based on the contract, Circle will compensate Binance with a monthly reward fee determined by the volume of USDC maintained utilizing Circle’s Modular Smart Contract Wallet framework. Furthermore, Binance committed to executing supplementary promotional efforts for USDC across its ecosystem.
Binance has pledged to refrain from selling, transferring, assigning, pledging, or hypothecating the Circle stock for a period extending up to two years. This limitation might expire sooner if Binance cancels the business contract under specific provisions. Throughout the lockup phase, Binance maintains voting authority concerning the shares.
This partnership supersedes previous arrangements established by the two firms in November 2024 and August 2025. It spans a duration of five years, although both participants retain the option to dissolve it prematurely under designated conditions.
Related: Circle launches Arc mainnet with USDC as native gas token
Originally published at https://cointelegraph.com/news/binance-stake-circle-expanded-usdc-deal?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
