The new funding promotes Circle’s continued strategic growth as demand for dollar digital currency and related financial services continues to scale globally
BlackRock, Fidelity, Marshall Wace and Fin Capital participate in the funding round. (Credit: Ralphs_Fotos from Pixabay)
Circle Internet Financial, a global internet finance firm and the issuer of USD Coin (USDC), today announced it has entered into an agreement for a $400M funding round with investments from BlackRock, Inc., Fidelity Management and Research, Marshall Wace LLP and Fin Capital. The funding round is expected to close in the second quarter.
In addition to its corporate strategic investment and role as a primary asset manager of USDC cash reserves, BlackRock has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC.
The new funding promotes Circle’s continued strategic growth as demand for dollar digital currency and related financial services continues to scale globally. USDC is one of the fastest growing dollar digital currencies with over $50 billion in circulation.
“Dollar digital currencies like USDC are fueling a global economic transformation, and Circle’s technology infrastructure sits at the center of that change. This funding round will drive the next evolution of Circle’s growth,” said Jeremy Allaire, Co-Founder and CEO of Circle. “It’s particularly gratifying to add BlackRock as a strategic investor in the company. We look forward to developing our partnership.”
Source: Company Press Release