Global crypto player Binance made a $100 million equity investment in the stablecoin issuer Circle on Tuesday. This investment follows the expansion and extension of the strategic cooperation between the companies aimed at promoting the dollar token USDC on the international Binance platform.
The new agreement is set for a five-year period. According to the crypto firm's statement, under the expanded partnership, Binance will actively promote USDC on its global platform, paying special attention to developing markets. Meanwhile, Circle will provide the necessary infrastructure services for storing and using USDC.
Binance has over 300 million users in more than 100 countries. In India, the company registered with the Financial Intelligence Unit of India (FIU-IND) in 2024, after which it resumed operations following a six-month hiatus.
Richard Teng, co-founder and CEO of Binance, noted that Circle has earned the status of one of the most reliable issuers globally thanks to USDC, Arc, and infrastructure that transforms cross-border value movement. He added that their five-year commitment and $100 million investment reflect long-term confidence.
Jeremy Allaire, co-founder, chairman, and CEO of Circle, emphasized that Binance has created one of the largest and most dynamic platforms for digital currency usage, transforming into one of the world's largest financial super-apps and one of the most widely used wallets globally for dollar stablecoins. He stated that together they see enormous opportunities for using USDC to expand access to the dollar, support savings and investments through innovative digital asset-based products, as well as reach people and businesses in global emerging markets.