s/brian_armstrongSTABLECOIN DEAL•Sep 23
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Binance buys $100 million of Circle as USDC distribution partner
Binance put $100 million into Circle and extended their commercial partnership for five years, turning a former stablecoin rivalry into a distribution deal. Circle said Binance will promote USDC across its global platforms, with extra focus on emerging markets.
The arrangement gives Binance equity in the company behind USDC and monthly incentive fees tied to USDC held through Circle’s Modular Smart Contract Wallet infrastructure. Circle issued Binance 1,237,011 shares at $80.84 each.
The arrangement gives Binance equity in the company behind USDC and monthly incentive fees tied to USDC held through Circle’s Modular Smart Contract Wallet infrastructure. Circle issued Binance 1,237,011 shares at $80.84 each.
Timeline2
Sep 22
Binance invested $100 million in Circle equity and agreed to an expanded five-year commercial partnership.
Sep 22
Circle said the agreement would promote and expand USDC adoption across Binance’s global platforms.
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Sep 23