Binance Partners with Circle to Boost USDC Market Share

Binance has invested $100 million to purchase shares in Circle and signed a five-year commercial agreement to promote the coverage of USDC in emerging markets and global crypto trading, increasing competitive pressure on Tether's USDT. The agreement integrates USDC into the Binance platform, allowing Binance to directly participate in Circle's growth. Analyst Owen Lau stated that this move optimizes the partnership between the two companies, aligning their interests more closely, similar to the relationship between Circle and Coinbase. Following their initial collaboration in December 2024, USDC's trading market and volume on Binance have seen significant growth. According to Kaiko data, the number of USDC-denominated spot trading markets provided by Binance has increased from 140 to 329, with monthly USDC trading volume rising from $20 billion to $40 billion, exceeding $80 billion. Kaiko's research director, Anastasia Melachrinos, noted that since 2026, Binance has held the largest share of USDC spot trading activity, processing daily trading volumes of $5 billion to $10 billion, far surpassing other platforms. As Binance expands USDC's coverage in emerging markets, its market advantage may continue to grow.

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