Circle secures $100 million from Binance in expanded USDC deal: SEC filing

Circle Internet Group raised $100 million from Binance through a private placement of more than 1.2 million Class A shares as the companies expanded their partnership around USDC, the company said in a new SEC filing.

The shares were sold at $80.84 each on Sept. 17, with the transaction completed immediately after the new commercial arrangements were signed, Circle disclosed.

Under the five-year agreement, Circle will pay Binance a monthly incentive fee representing a percentage of the USDC held through Circle’s Modular Smart Contract Wallet infrastructure. Binance will also undertake activities to promote USDC on its platform.

The agreement replaces the companies’ previous arrangements announced in November 2024 and August 2025.

Binance has agreed to a two-year lockup on the shares, with customary exceptions, and retains voting rights during the restriction period.

Circle shares ticked higher in premarket trading on Tuesday, per Yahoo Finance, after ending Monday’s session up about 3% at $94.