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Binance acquires $100M Circle stake in five-year USDC promotion agreement

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Cryptocurrency exchange Binance has purchased a $100 million stake in Circle, the issuer of the USDC stablecoin. The deal involved Binance acquiring 1.24 million Circle shares at a price of $80.84 per share. As part of the five-year agreement, Binance will actively promote USDC across its platform. In return, Circle will pay Binance a recurring monthly fee based on the volume of USDC held through Binance's wallet infrastructure.

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