Binance Invests $100M in Circle to Boost USDC Adoption
On September 22, Binance announced a $100 million investment in Circle, the issuer of the USDC stablecoin, aimed at expanding the token's use in emerging markets. The investment, which took place on September 17, includes an ownership stake and a distribution agreement.
Binance will promote and integrate USDC on its platform, while Circle will supply the infrastructure for holding and utilizing the stablecoin. USDC is designed to maintain a value linked to the US dollar, and expanding its availability could enhance digital transactions for customers.
Circle issued approximately 1.24 million shares at $80.84 each, with Binance purchasing the shares at a 5% discount. The agreement also includes a monthly incentive fee from Circle to Binance for promotional activities.
The five-year arrangement allows for early termination under specific conditions.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Binance Investigated for Alleged Iran Sanctions Violations
Yellow Card Secures $40M for Global Expansion Plans
Experts Warn Youth Growth Alone Won't Drive Africa's Economy
GGA Calls for NAICOM Chief's Removal Over Allegations
Ojulari's Leadership Transforms NNPCL, Boosts Trust in 2026
BIPC Reports 83% Completion of Taraku Mills Rehabilitation
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
