Circle gains Binance backing in USDC-Tether race

cryptonews09-27 15:03

Circle has secured a $100 million investment from Binance and a five-year commercial agreement designed to increase USDC distribution, giving the stablecoin issuer another channel as it competes with ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCircle gains Binance backing in USDC-Tether race\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-27 15:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/circle-gains-binance-backing-in-usdc-tether-race/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Circle has secured a $100 million investment from Binance and a five-year commercial agreement designed to increase USDC distribution, giving the stablecoin issuer another channel as it competes with ...</p>\n\n<a href=\"https://crypto.news/circle-gains-binance-backing-in-usdc-tether-race/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861558580.USD","symbol_name":"日兴方舟颠覆性创新基金B","start_time":0,"source_url":"https://crypto.news/circle-gains-binance-backing-in-usdc-tether-race/","article_id":"2670408967","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/circle-gains-binance-backing-in-usdc-tether-race/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2670408967","pubTimestamp":1790492591,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Circle has secured a $100 million investment from Binance and a five-year commercial agreement designed to increase USDC distribution, giving the stablecoin issuer another channel as it competes with Tether.Binance invested $100 million in Circle and signed a five-year agreement focused on expanding USDC.Circle will pay Binance monthly incentives linked to qualifying USDC balances held through wallet infrastructure.Binance bought 1.24 million Circle shares at $80.84 each through a private placement transaction completed.USDC market capitalization reached roughly $75 billion while USDT remained above $183 billion in September.Circle said on Sept. 22 that Binance had purchased $100 million of its Class A common stock and renewed their USDC partnership for five years, with a focus on distribution in emerging markets.The agreement builds on a relationship that began in late 2024. Analysts interviewed by CoinDesk said Binance could help Circle place USDC in front of more users, particularly","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1861558580.USD":"日兴方舟颠覆性创新基金B","BLCK":"Corgi Crypto Infrastructure ETF","CRCL":"Circle Internet Corp.","LU1861217088.USD":"贝莱德金融科技A2","BKCH":"AdvisorShares Sabretooth ETF","CRCG":"2倍做多CRCL ETF-Leverage Shares","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","CRCO":"YIELDMAX CRCL OPTION INCOME STRATEGY ETF","ICRC":"Bitwise CRCL Option Income Strategy ETF","CIR":"2倍做多CRCL ETF-Corgi","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","LU0106831901.USD":"贝莱德世界金融基金A2","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","CRCA":"Proshares Ultra CRCL","BK4023":"应用软件","IBLC":"iShares Blockchain and Tech ETF","CCUP":"T-REX 2x Long CRCL Daily Target ETF","CRCD":"T-REX 2X Inverse CRCLDaily Target ETF"},"translate_title":"Circle 在 USDC-泰达币竞赛中获得币安支持","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/0b73dd688d9c6fdb658297b1e1f1af22","symbols_score_info":{"CIR":0.6,"IBLC":0.6,"ICRC":0.6,"BLCK":0.6,"CRCL":1.96,"BKCH":0.6,"CRCD":0.6,"CCUP":0.6,"CRCA":0.6,"CRCO":0.6,"CRCG":0.6},"content_text":"Circle has secured a $100 million investment from Binance and a five-year commercial agreement designed to increase USDC distribution, giving the stablecoin issuer another channel as it competes with Tether.\n\n\nSummary\n\n\n\nBinance invested $100 million in Circle and signed a five-year agreement focused on expanding USDC.\nCircle will pay Binance monthly incentives linked to qualifying USDC balances held through wallet infrastructure.\nBinance bought 1.24 million Circle shares at $80.84 each through a private placement transaction completed.\nUSDC market capitalization reached roughly $75 billion while USDT remained above $183 billion in September.\nBinance expanded USDC spot markets to 329 as trading volumes rose sharply after 2024 partnership.\n\n\n\nCircle said on Sept. 22 that Binance had purchased $100 million of its Class A common stock and renewed their USDC partnership for five years, with a focus on distribution in emerging markets.\nThe agreement builds on a relationship that began in late 2024. Analysts interviewed by CoinDesk said Binance could help Circle place USDC in front of more users, particularly in markets where dollar stablecoins play a large role in crypto trading and payments.\nKaiko data cited by CoinDesk showed the number of USDC-quoted spot markets on Binance rising from 140 when the original partnership began to 329. Monthly USDC trading volume on the exchange moved from roughly $20 billion-$40 billion before the deal to more than $80 billion in recent months.\n\nJUST IN: Binance now holds $100 million worth of Circle stockThe exchange signed a five-year agreement to expand USDC access across its platform, making Binance a shareholder in the company behind the stablecoin. pic.twitter.com/1OPuOLh8jr— crypto.news (@cryptodotnews) September 27, 2026\n\nCircle and Binance deepen their financial ties\nThe new arrangement goes further than distributing USDC because Binance now owns Circle stock. Circle’s SEC filing shows that Binance bought 1,237,011 Class A shares at $80.84 each. The private placement generated $100 million for Circle and closed on Sept. 17.\nThe purchase price represented a discount to Circle’s market price before the transaction closed. Binance retains voting rights attached to the shares but agreed to restrictions on selling, transferring, pledging or hedging them for up to two years, subject to specified exceptions.\nUnder the commercial agreement, Circle will pay Binance a monthly incentive calculated as a percentage of qualifying USDC held through Circle’s Modular Smart Contract Wallet infrastructure service. Binance agreed to perform activities promoting USDC on its platform.\nEither company can terminate the agreement before the five-year period expires when specified conditions occur. The arrangement replaces agreements signed in November 2024 and August 2025.\nAs crypto.newsreported on the Binance investment, the share purchase and renewed commercial arrangement tie Binance’s financial interest more closely to USDC distribution.\nClear Street analyst Owen Lau told CoinDesk that the structure further aligns Binance and Circle, drawing a comparison with Circle’s existing relationship with Coinbase.\nBinance has become a major USDC trading venue\nTrading data suggests Binance was already becoming a larger source of USDC activity before the new agreement was signed.\nAccording to Kaiko data cited by CoinDesk, Binance handled roughly $5 billion-$10 billion of USDC spot trading per day during 2026. Anastasia Melachrinos, Kaiko’s head of research, said that was around 10 to 20 times the activity recorded on many competing trading venues.\nUSDC trading pairs on Binance have increased sharply since the companies began working together. The platform had 39 USDC spot markets in 2021 and 140 by late 2024, before reaching 329 under the partnership.\nThe expansion does not mean every USDC pair remains permanently listed. Binance periodically removes individual markets when liquidity or volume no longer meets its requirements. Crypto.news reported earlier in September that BREV/USDC, COOKIE/USDC, LA/USDC and QNT/USDC were scheduled for removal following one such review.\nCircle has been working with other exchanges at the same time. Its expanded partnership with OKX covers USDC trading in spot, margin and futures markets.\nCircle’s expanded OKX partnership earlier this month. Eligible traders gained more access to USDC-denominated markets as Circle sought distribution beyond a single exchange.\nUSDC remains well behind Tether by market value\nThe Binance agreement comes while USDC remains the second-largest dollar stablecoin behind Tether’s USDT.\nCoinGecko recorded USDC’s market capitalization at roughly $75.3 billion on Sept. 23, up from $73.6 billion on Sept. 17.\nTether remained considerably larger. CoinGecko data placed USDT’s market value at approximately $183.8 billion on Sept. 26, with daily trading volume close to $69 billion. Its market capitalization had stayed near $183 billion throughout most of September.\nGravity Team CEO Martins Benkitis told CoinDesk that Binance gives Circle an incentive and distribution route to increase USDC usage. He cautioned that USDT’s existing trading pairs, local liquidity and established user behavior make rapid changes in market share difficult.\nThe difference extends beyond token supply. USDT has long-established liquidity in international crypto markets and remains heavily used as a quote asset for trading. Analysts interviewed by CoinDesk said Circle’s Binance partnership could increase competitive pressure without immediately replacing those networks.\nCircle has meanwhile expanded USDC’s presence through its own infrastructure. On Sept. 16, the company launched the mainnet of Arc, a blockchain using USDC for transaction fees.\nThe Arc launch, the network opened with institutional validators including BlackRock, Visa, Mastercard, DTCC and Standard Chartered.\nCircle is building payment rails beyond exchanges\nCircle’s competition for stablecoin usage now extends into payment infrastructure and cross-border settlement.\nOn Sept. 8, Circle announced an agreement to acquire Tazapay, a Singapore-based cross-border payment company. Circle said the transaction would add relationships with more than 60 banks and fintech companies and payout capabilities covering more than 100 markets.\nThe acquisition is expected to close in 2027 after regulatory approvals, including consent from the Monetary Authority of Singapore. An SEC filing shows the transaction is structured as a share purchase and remains subject to closing conditions.\nTazapay transaction is valued at $400 million in stock. Tazapay processes more than $25 billion in annualized payment volume, while stablecoins account for roughly 60% of its transaction activity, according to information released around the deal.\nCircle Payments Network forms another part of the company’s payments strategy. The network connects financial institutions and payment providers using regulated stablecoins for cross-border settlement.\nBinance gives Circle a different distribution route through trading accounts and users in international markets. Binance co-CEO Richard Teng said the company’s $100 million investment and five-year commitment represented what he called “long-duration conviction” in Circle and USDC.\nCircle CEO Jeremy Allaire described Binance as one of the largest platforms for dollar stablecoin use and said the renewed partnership would extend USDC availability through its global user base.\n\n\n\n\n\n                Read more:\n            \n\n                Payward expands Kraken with $2B acquisition push","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2670408967","isCrawlerRequest":true}