Binance's $100M Circle (CRCL) deal boosts USDC in stablecoin race with Tether, analysts say
Summary
Circle invested $100 million in Binance shares and signed a five-year agreement to expand USDC across the exchange. Since their initial partnership in December 2024, Binance’s USDC-quoted spot markets have grown from 140 to 329, while monthly USDC trading volume has roughly doubled to more than $80 billion. Analysts say Binance’s distribution could boost USDC, especially in emerging markets, and put pressure on Tether’s larger USDT, though its established liquidity and user habits make rapid market-share shifts unlikely. Circle is also expanding payment infrastructure, including a planned $400 million acquisition of Tazapay.
