Binance said on September 22 that it invested US$100 million in Circle Internet Group, a US-based financial technology company and the issuer of USDC.

Binance also renewed and expanded its strategic partnership with Circle for five years to promote the stablecoin on Binance’s global platform.

Under the deal, Binance will promote USDC globally, especially in emerging markets. Circle will provide the infrastructure services needed to hold and use the stablecoin.

Binance said it bought US$100 million in Circle Class A common stock in a private placement at a 5% discount to CRCL’s market price before the deal closed.

🔗 Source: Binance

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