Binance acquires $100M stake in Circle, deepens stablecoin partnership

Binance purchased a $100 million stake in Circle, the issuer of USDC stablecoin, deepening ties between the crypto exchange and stablecoin infrastructure. Watch: consolidation between exchanges and core infrastructure (stablecoins, custody) is accelerating. Builders in crypto rails should prepare for margin compression as exchanges verticalize.

Source: ET Tech ↗