Binance has invested $100 million in Circle Internet Group, the issuer of the USDC stablecoin, while signing a new five-year commercial agreement that expands USDC distribution across the exchange's products and global user base.

Under the private placement, Circle issued and sold Binance 1,237,011 Class A shares on September 17 at $80.84 per share, putting the total at approximately $100 million. Binance is subject to a two-year restriction on transferring the shares, with specified exceptions, while retaining the voting rights attached to the stock.

The equity purchase gives Binance a direct ownership position in the company behind USDC, alongside a commercial arrangement that replaces the earlier agreements between the two companies. The structure pairs an ownership stake in Circle's performance with a recurring, balance-based fee stream from the same relationship, tying the exchange's distribution role directly to the issuer behind the stablecoin.

Circle to Pay Binance Monthly USDC Incentive Fees

The new agreement runs for five years, although either company can terminate it early under specified circumstances. Circle will pay Binance monthly incentive fees tied to USDC held through covered infrastructure, while Binance has committed to additional activities promoting the stablecoin's use across its platform.

The deal supersedes two prior commercial arrangements. A November 2024 agreement required Binance to promote USDC and hold part of its corporate treasury in the stablecoin, with Circle paying Binance a $60.3 million upfront fee plus monthly payments based on qualifying USDC balances held on the platform and in Binance's treasury.

An August 2025 agreement expanded those payments to USDC held through Circle's Modular Smart Contract Wallet infrastructure. That arrangement carried a four-year term, with a possible one-year tail if the companies did not agree to an extension. The September agreement replaces both structures with the new five-year framework, the third set of commercial terms between the companies in under a year.

Binance Deepens USDC Access Across Circle Ecosystem

Binance has also been expanding its technical support for Circle products alongside the commercial relationship. On September 16, the exchange completed USDC integration on Circle's Arc network, opening deposits as the blockchain entered public production. Circle launched the Arc mainnet with USDC used for transaction fees, and Binance was among the exchanges providing access to the network. Circle said more than $74 billion of USDC was in circulation when Arc launched.

The investment was disclosed as Binance faces separate scrutiny over its U.S. compliance controls. Federal prosecutors are examining possible Iran-related sanctions violations in a new probe concerning activity after the exchange's 2023 criminal settlement.

Circle's regulatory filings identify Binance as one of its key USDC distribution partners and state that payments to major distributors can materially affect Circle's costs as balances on those platforms grow. The new agreement keeps that incentive-based model in place for another five years while adding Binance as a Circle shareholder, making the terms of this partnership a recurring line item in Circle's disclosed economics going forward.