NewsHK
Binance has invested $100 million U.S. in Circle Internet Group and entered a new five-year agreement to promote the USDC stablecoin.
The transaction, revealed in a regulatory filing, marks a significant capital commitment from the privately held exchange to the New York Stock Exchange-listed issuer.
The commercial agreement between the two companies took effect on Sept. Under the terms, Binance purchased 1,237,011 shares of Circle's Class A common stock at a price of $80.84 U.S.
The filing noted that this acquisition price was 5% below the market rate at the time of closing.
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