Binance Buys $100 Million Circle Stake in Five-Year USDC Deal

Binance bought $100 million of Circle shares as the companies agreed to a five-year deal to promote USDC, Circle’s dollar-linked stablecoin. The investment gives the crypto exchange an ownership stake in the company behind USDC.

Circle sold Binance 1,237,011 Class A shares for $80.84 apiece in a private placement, according to a September 22 filing with the U.S. Securities and Exchange Commission. The sale closed on September 17, immediately after the companies signed the new commercial arrangements.

Under the agreement, Circle will pay Binance a monthly incentive fee based on the amount of USDC held through Circle’s Modular Smart Contract Wallet infrastructure. Binance, in turn, agreed to promote USDC on its platform. The filing did not disclose the fee amount.

The five-year deal replaces agreements the companies entered into in November 2024 and August 2025. Either company can end the latest arrangement early under specified conditions.

Binance agreed not to sell, transfer, pledge or hedge the shares for up to two years, subject to exceptions. It keeps its shareholder rights during that period, including the right to vote.

The deal links Binance’s financial interests to Circle in two ways: it owns Circle shares and receives fees tied to USDC balances in the specified wallet infrastructure. That gives Binance an incentive to promote USDC, while Circle gains access to the exchange’s users and products.

The companies had already worked together on USDC distribution. In their December 2024 announcement, they said Binance would make the stablecoin more available across its products and services. The new contract extends that partnership, but its disclosed fee formula focuses on balances held through Circle’s wallet infrastructure.