Circle Paid Binance $60.25 Million for USDC Promotion

Stablecoin issuer Circle has submitted an IPO S-1 document to the US Securities and Exchange Commission (SEC) stating that Binance became the first approved participant under the stablecoin ecosystem agreement in November 2024. As per the IPO S-1 document, Binance needs to promote USDC on its platform and hold a certain amount of USDC in its fiscal reserves.

Circle and Binance Join Hands for USDC Promotion

Some newly public info from Circle’s CRCL Form S-1

$60M one-time fee to Binance who needs to hold $1.5B USDC minimum pic.twitter.com/5Ej44tnI1i

— Nick Cannon (@inkymaze) April 1, 2025

For the promotional purpose, Circle has paid Binance a one-time fee of $60.25 million and has conceded to pay a monthly incentive fee based on the USDC balance held by Binance. Notably, the incentive fee is only paid when Binance holds at least 1.5 billion USDC, and Binance has committed to holding 3 billion USDC (exceptions may apply in certain conditions).

The official documents state, “The marketing arrangement has a two-year term, although if it is terminated for convenience prior to the term, there is a one-year tail during which payments and promotional obligations continue, although at reduced rates.”

Both the companies are cooperating on the marketing front and financial reserves sector, for two years each. Note that, if Binance ends the marketing agreement early, it is still required to fulfill the one-year reduced fee payment and promotion obligations. As per the document, Binance and Circle can choose to terminate the agreement early under certain circumstances.

Founded in 2013, Circle has filed a long-anticipated initial public offering on Tuesday. It is reported that over 99% of Circle’s $1.68 billion in revenue from 2024 came from reserve income, and just $15 million came from other sources.

Also Read: Binance Investigates ‘Rat Trading’ Complaint, Takes Immediate Action

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Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. Passionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.