- Binance is investing $100 million in Circle and extending the companies’ partnership for another five years.
- The partnership will focus on expanding access to USDC, particularly in emerging markets.
- The companies will develop USDC use cases involving dollar liquidity, savings and investments.
Crypto exchange Binance is investing $100 million in Circle and extending its partnership with the company for another five years, Binance told Incrypted. The agreement is intended to broaden access to USDC on Binance’s global platform, particularly for users in emerging markets.
As part of the partnership, the companies will also focus on using USDC to provide access to dollar liquidity, savings and investments.
“This is a long-term strategic investment, not a short-term deal — a bet on regulated stablecoins and infrastructure that is becoming an important part of the new digital financial system,” Binance said.
Binance described Circle as one of the industry’s trusted issuers and said trust in stablecoins depends on regulation, transparency and real-world results. The company said the $100 million investment and five-year partnership extension are expected to support the further rollout of USDC on Binance’s platform.
Binance also stressed the need to expand access to the digital dollar, particularly for people who may only be able to access financial services through a smartphone.
Source: Incrypted
