TechFlow news, on April 2, according to Circle's IPO S-1 filing with the U.S. Securities and Exchange Commission (SEC), in November 2024, Binance became the first approved participant under Circle's stablecoin ecosystem agreement. Circle paid Binance a one-time upfront fee of $60.25 million and agreed to pay monthly incentive fees based on the USDC balance held by Binance.
Under the two-year cooperation agreement, Binance is required to promote USDC on its platform and hold USDC in its treasury reserves. Monthly incentive fees are only paid when Binance holds at least 1.5 billion USDC, and Binance has committed to holding 3 billion USDC (with exceptions under specific circumstances). If Binance terminates the marketing agreement early, it must still fulfill reduced-rate payments and promotional obligations for one year. This collaboration consists of marketing and treasury reserve components, and both parties may terminate the agreement early under certain conditions.
