$USDC #Circle, issuer of USDC$USDC , paid #Binance a $60 million one-time fee under a November 2024 Stablecoin Ecosystem Agreement.

Binance must hold at least $1.5 billion in USDC as part of the deal to maintain a portion of its treasury in the stablecoin.

The partnership aims to boost USDC adoption, leveraging Binance’s 240 million global users for trading, savings, and payments.

This follows Circle and Binance’s January 2025 announcement to deepen ties, amid USDC’s $41 billion market cap.

Circle faced challenges in 2023 with reserves at Silicon Valley Bank, but recovered, as confirmed in a reply to a user query.

The deal reflects growing competition in the stablecoin market, where Tether leads after overtaking $USDC in 2022.