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.

With demand for #USDC growing and use cases in financial services continuing to scale globally, Circle plans additional strategic growth with a $400M funding round announcement and strategic partnership with BlackRock. https://t.co/OjkhYT0f5T

— Circle (@circlepay) April 12, 2022

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.¹

“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: Circle