Binance buys $100 million Circle stake in five-year USDC promotion deal
Circle sold 1.24 million shares at $80.84 each and will pay Binance a monthly fee tied to USDC held through its wallet infrastructure.
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Buod
- Binance bought $100 million in Circle shares through a private placement that closed Sept. 17, acquiring 1.24 million shares at $80.84 each.
- Binance generally cannot sell, transfer or hedge the shares for up to two years, though it retains voting rights.
- Under an expanded five-year partnership, Circle will pay Binance monthly incentives tied to USDC holdings, while Binance will promote the stablecoin on its platform.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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