Market Flux Event
Binance Takes $100M Equity Stake in Circle in Five-Year USDC Promotion Deal
Read this in the Market Flux appBinance has acquired a roughly $100 million equity stake in Circle Internet Group, the issuer of the USDC stablecoin, while simultaneously entering a five-year commercial agreement to promote USDC across its platform. The exchange purchased approximately 1.24 million Circle shares at $80.84 each, with both the equity placement and the commercial deal closing on the same day.
Under the commercial arrangement, Circle will pay Binance a monthly incentive fee in exchange for promoting USDC adoption, with a particular focus on emerging markets. USDC currently carries a market capitalization of roughly $75 billion, and the partnership is structured to expand its reach through one of the world's largest crypto exchanges by trading volume.
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Sources
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- CoindeskBinance buys $100 million Circle stake in five-year USDC promotion deal
- decrypt.coBinance Takes $100M Stake in Circle Under Five-Year USDC Promotion Deal
- DecryptBinance Takes $100M Stake in Circle Under Five-Year USDC Promotion Deal
- Yahoo FinanceBinance Takes $100M Stake in Circle Under Five-Year USDC Promotion Deal
- crypto.newsBinance takes $100 million stake in Circle with five year USDC agreement
- WallstengineBINANCE BUYS $100M STAKE IN CIRCLE, EXPANDS USDC PARTNERSHIP Binance bought roughly 1.24M $CRCL shares at $80.84 each, investing about $100M in the USDC issuer. The two companies also expanded their commercial partnership for five years, with Binance agreeing to promote USDC across its platform. Circle will pay Binance a monthly incentive fee under the agreement. USDC currently has a market cap of roughly $75B. Source: Reuters
- TheTradeXchange$CRCL Binance Invests $100 Million in Circle, Expands Strategic Partnership and Renews Commercial Agreement for Five Years
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- OpenOutcrier$CRCL (+2.3% pre) Binance buys $100 million stake in Circle, expands partnership
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- unchainedcrypto.comBinance Becomes a Circle Shareholder in $100 Million Stock Sale Tied to USDC Deal
- MarketWatchCircle Expands Binance Partnership, Raises $100M in Equity Placement
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- cnbc.comCircle lands $100 million from Binance to ramp up global USDC expansion
- Crypto PotatoBinance Makes $100M Bet on Circle and Signs Five-Year USDC Deal
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- CoinGapeMedia⚡️ #Binance Buys $100M in $CRCL Shares Amid Expanded USDC Partnership With #Circle 🔗 Know more in comments
- Crypto EconomyBinance Buys $100M Circle Stake, Inks Five-Year USDC Promotion Deal