Circle expands Binance partnership, sells it $100 million in stock
Circle will pay Binance a monthly fee tied to USDC balances under a five-year deal that either side can end early
Published
Circle Internet Group has expanded its partnership with Binance, entering new agreements on September 17, 2026 that replace prior deals from November 2024 and August 2025. The arrangement covers promotion of USDC through Circle's Modular Smart Contract Wallet infrastructure service.
Under the deal, Circle will pay Binance a monthly incentive fee tied to the amount of USDC held through that service. The agreement runs five years, with early termination rights for either party.
Alongside the commercial arrangement, Circle sold Binance 1,237,011 shares of Class A common stock at $80.84 each, raising $100 million in a private placement. Binance is subject to a lockup on the shares running to the earlier of two years or a Binance-driven termination of the commercial deal.
The expanded partnership and the capital raise point to confidence in continued USDC adoption. But the timing coincides with active Justice Department scrutiny of Binance over Iran-linked sanctions violations, which adds execution risk to the arrangement. The five-year structure, with termination rights on both sides, leaves Circle exposed if regulatory pressure on Binance intensifies.