NewsHK
Binance will integrate the USDC stablecoin across its trading, savings, and ecosystem products under a five-year strategic commercial agreement with Circle Internet Group, valuing the arrangement at $100 billion.
As part of the transaction, Binance is purchasing approximately $100 million worth of Circle shares. Circle announced the agreement on Sept.
The disclosure added to increased momentum in Circle shares, which have rallied more than 50 percent since early August.
The partnership is viewed as a significant catalyst for Circle's business model, which derives more than 95 percent of its revenue from reserve interest income on active USDC circulation.
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