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New five-year agreement focuses on promotion of USDC globally
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, today announced an expansion of their strategic partnership. The companies have entered into a new, five-year commercial agreement focused on expanding USDC access across emerging markets. Further, Binance has made a $100 million strategic equity investment in Circle.
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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.
"Binance has built one of the largest and most dynamic platforms in the world for using digital currency, creating the internet's largest financial super app, and becoming the most widely used wallet in the world for dollar stablecoins," said J eremy Allaire, Co-founder, Chairman and CEO of Circle . "Together, we see incredible opportunities to leverage USDC to expand dollar access, support savings and investment with innovative digital asset products, and reach people and businesses throughout global emerging markets."
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."
About Circle
Circle (NYSE: CRCL) is one of the world's leading internet financial platform companies, building the foundation of a more open, global economy through programmable blockchain infrastructure, digital assets, and payment applications. Circle's platform includes the world's largest stablecoin network anchored by USDC, Circle Payments Network for global money movement, and Arc, an enterprise-grade blockchain designed to become the Economic OS for the internet. Enterprises, financial institutions, and developers use Circle to power trusted, internet-scale financial innovation.
About Binance
Binance is a leading global blockchain ecosystem behind the world's largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 300 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com .
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