New Delhi, Oct. 1 -- Binance has invested $100 million in Circle Internet Group, Inc. (NYSE: CRCL), while renewing and expanding its strategic partnership with the stablecoin issuer for five years. The agreement will focus on expanding the use of Circle's USDC across Binance's global platform, particularly in emerging markets.

Under the expanded partnership, Binance will promote USDC across its global platform, especially in emerging markets. Circle will provide infrastructure services to support the holding and use of USDC.

As part of the transaction, Binance purchased $100 million worth of Circle Class A common stock through a private placement. The shares were purchased at a price reflecting a five per cent discount to Circle's marke...