Binance-Circle deal seen boosting USDC in emerging markets
Analysts say Binance's five-year USDC promotion deal and $100 million stake in Circle could strengthen USDC's reach in emerging markets, though Tether's liquidity advantage remains hard to dislodge.
Binance received 1.24 million Class A shares at $80.84 each in a private placement with a two-year lock-up, and Circle will pay Binance a monthly fee tied to USDC held through its wallet infrastructure. The arrangement ties one of crypto's largest exchanges directly to Circle's equity in exchange for promoting USDC.
Sources
- Binance deal gives Circle a boost in stablecoin race with Tether, analysts saycoindesk.com ↗
- RT @CoinDeskPodcast: A $3.17 million options bet targets bitcoin at $95,000 by the end of October, Binance buys a $100 million stake in Cir…x.com ↗
- BREAKING: @Binance buys $100M in @Circle shares as part of a five-year $USDC promotion deal, receiving 1.24M Class A shares at $80.84 each in a private placement with a two-year lock-up on the stake. https://t.co/LjALWoKbY9x.com ↗
- Binance buys $100 million Circle stake in five-year USDC promotion dealcoindesk.com ↗
CoinDesk
