Binance has invested $100 million in Circle Internet Group and renewed its strategic partnership with the stablecoin issuer for another five years, deepening cooperation around USDC.

Under the expanded agreement, Binance will promote USDC across its global platform, with a particular focus on emerging markets. Circle will provide the infrastructure needed to support the holding and use of the stablecoin.

Binance purchased $100 million worth of Circle Class A common shares through a private placement at a price reflecting a 5 percent discount to Circle’s market price before closing.

The companies said the renewed partnership is aimed at expanding access to USDC and increasing its use across Binance’s ecosystem.

“Circle has earned its place as one of the most credible issuers in the world,” Binance co-CEO Richard Teng said, adding that the investment reflected “long-duration conviction.”

Circle co-founder, chair and CEO Jeremy Allaire said the partnership could help broaden access to dollar-based digital assets, particularly in emerging markets.

The five-year agreement will also support the development of products tied to savings, investment and cross-border digital payments using USDC.