By Binance has invested $100 million in stablecoin issuer Circle Internet Group and expanded a commercial partnership to promote its USDC token globally, with the new agreement running for five years.
The Binance Circle investment gives the cryptocurrency exchange an equity stake in Circle while deepening cooperation around USDC, a dollar-pegged digital token used across cryptocurrency markets.
Circle disclosed the transactions in a regulatory filing with the U.S. Securities and Exchange Commission on Tuesday. The companies said the expanded partnership will focus particularly on increasing USDC access and usage in emerging markets.
Under the agreement, Binance purchased 1,237,011 shares of Circle’s Class A common stock at $80.84 per share through a private placement, according to the filing. The transaction raised $100 million for Circle and closed on Sept. 17.
The purchase price reflected a discount to Circle’s market price before the transaction, the company said.
The investment comes alongside a new five-year commercial arrangement under which Binance will promote USDC across its global platform, while Circle will provide infrastructure supporting the holding and use of the stablecoin.
Circle said it will pay Binance a monthly incentive fee based on the amount of USDC held through its Modular Smart Contract Wallet infrastructure service. Binance has also agreed to undertake activities to promote USDC on its platform.
The new arrangement replaces agreements between the companies signed in November 2024 and August 2025, according to Circle’s filing. Either company can terminate the agreement early under specified circumstances.
The companies said the expanded partnership will seek to increase the use of USDC in emerging markets, where dollar-denominated digital assets have become part of the wider cryptocurrency and payments landscape.
Binance co-CEO Richard Teng said the $100 million investment and five-year commitment reflected the company’s long-term interest in its relationship with Circle.
“USDC” is a stablecoin designed to maintain a value of one U.S. dollar. Stablecoins are digital tokens generally linked to traditional currencies or other assets and are widely used to transfer value within cryptocurrency markets.
Circle is the issuer of USDC, which had a market capitalization of nearly $75 billion, according to CoinMarketCap data cited by Reuters.
Circle chief executive Jeremy Allaire said the partnership could help expand access to dollar-based digital assets and support savings, investment and other digital asset applications in emerging markets.
The comments reflect the companies’ stated strategy but do not guarantee increased adoption or financial returns from the expanded arrangement.
The Binance Circle investment also creates a direct financial relationship between the cryptocurrency exchange and the publicly listed stablecoin issuer.
Circle’s Class A shares trade on the New York Stock Exchange under the ticker CRCL. Reuters reported that Circle shares were up nearly 2% in premarket trading following news of the investment and expanded partnership.
The SEC filing shows that Binance’s shares are subject to a lock-up period. Binance has agreed not to sell, transfer, pledge or hedge the shares for up to two years, subject to specified exceptions.
Binance will retain voting rights attached to the shares during the lock-up period, according to the filing.
The structure means Binance is both a commercial partner of Circle and a shareholder in the company. Circle, meanwhile, will pay Binance incentives tied to the amount of USDC held through its wallet infrastructure under the new commercial arrangement.
For Circle, expanding USDC distribution through large cryptocurrency platforms is an important part of its strategy to increase the token’s use across digital financial markets.
The company has also been developing other infrastructure for digital payments and blockchain-based financial applications.
Circle said its platform includes USDC, the Circle Payments Network and Arc, an enterprise blockchain launched earlier in September.
Binance operates one of the world’s largest cryptocurrency trading platforms. The company said it has more than 300 million users across more than 100 countries, although those figures are company-provided.
The exchange has increasingly incorporated stablecoins into products and services offered to its users as the digital-asset industry develops beyond spot cryptocurrency trading.
The renewed Circle agreement is therefore broader than a conventional equity investment. It combines Binance’s distribution reach with Circle’s stablecoin infrastructure and creates financial incentives for both companies to expand USDC usage.
The deal comes as stablecoins receive increasing attention from financial institutions, regulators and cryptocurrency companies because of their potential use in payments and cross-border transfers.
Stablecoins are also closely watched because their value depends on the assets and arrangements supporting their dollar pegs. Circle has said USDC is backed by reserves designed to support redemption at its stated value.
The Binance Circle investment does not give Binance control of Circle. The shares represent a minority equity position, while the commercial agreement governs the companies’ cooperation on USDC promotion and infrastructure.
Circle’s SEC filing also states that the commercial arrangements contain provisions allowing either party to terminate them in certain circumstances.
The five-year term provides a longer framework for the companies’ cooperation than their previous arrangements. Its success will depend on the extent to which Binance users adopt USDC and the companies expand its use across emerging and other markets.
For now, the agreement gives Binance a direct stake in the company behind one of the largest dollar-pegged stablecoins while giving Circle access to Binance’s global distribution platform.
The two companies said their renewed partnership is intended to expand USDC availability and usage worldwide, particularly in emerging markets.
