USDC gets $100 million push from Binance

Circle Internet Group, Inc. (NYSE: CRCL), a global internet financial platform, and Binance, operator of one of the world’s most widely used financial super apps entered into a new, five-year commercial agreement focused on expanding USDC access across emerging markets while Binance has made a $100 million strategic equity investment in Circle.

Under the new agreement, Binance will accelerate the promotion, awareness, and integration of USDC on its platform, especially across emerging markets, and Circle will provide the infrastructure services that support holding and using USDC.

According to Jeremy Allaire, Co-Founder, Chairman and CEO of Circle, both companies see incredible opportunities to leverage USDC to expand dollar access, support savings, and investment with innovative digital asset products.

Binance’s equity investment in Circle was made through a private placement of Class A common stock at a purchase price reflecting a five percent discount to the market price of CRCL prior to closing. Binance has agreed not to transfer the shares for a period of up to two years from the closing date, subject to customary exceptions.

“Circle has earned its place as one of the most credible issuers in the world, spanning USDC, Arc, and the infrastructure reshaping how value moves across borders. Our $100 million investment and five-year commitment represent long-duration conviction,” said Richard Teng, co-CEO of Binance. “We are helping to build a more inclusive, transparent, and compliant digital economy. A stable, trusted digital dollar should not be a privilege–it should be available to anyone with a phone. That’s the future this partnership is designed to deliver.”

It is noteworthy that USDC is regulated in the United States, while USDT has yet to be. The announcement comes as US prosecutors are investigating cryptocurrency exchange Binance over possible violations of US sanctions on Iran and trading activity conducted through its platform.