Binance deal gives Circle a boost in stablecoin race with Tether, analysts say

Image for article Binance deal gives Circle a boost in stablecoin race with Tether, analysts say
News Source : CoinDesk

News Summary

  • Binance invested $100 million in Circle CRCL $87.37 and signed a new five-year commercial agreement to promote and integrate USDC across its platform.
  • The arrangement gives Binance a direct stake in Circle’s growth while giving Circle wider distribution through one of the world's largest crypto exchanges.
  • USDC has a market capitalization of about $74 billion, making it the second-largest u.s. dollar stablecoin behind Tether's roughly $140 billion USDT.

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