04.13.2022

BlackRock Invests in Stablecoin Issuer

04.13.2022

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.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

Related articles

  1. SEC has charged AGI US and three former senior portfolio managers with fraud.

  2. AGI US and its parent, Allianz SE, has agreed to pay over $5bn in restitution to victims.

  3. A public quotation is one step towards converting digital asset products into ETFs.

  4. The digital currency asset manager has announced the Grayscale Future of Finance UCITS ETF.

  5. Thomson Reuters Streamlines FX Access

    Brokers and exchanges seek ways to unlock demand from hedge funds and mutual funds.