USDC-Creator Circle Snares $440 Million in Funding Round

[HOCD1A035]

The cash came from a number of high-profile backers, including Digital Currency Group and FTX.

Crypto payments company Circle today announced that it has raised $440 million in a funding round. 

The company, which is behind the US Dollar Coin (USDC), the eighth-biggest cryptocurrency by market cap and the second-largest stablecoin behind Tether, said the cash came from top investors.
These include Digital Currency Group, Fidelity Management and Research Company, and cryptocurrency exchange FTX, according to the release. 

“With powerful backers who are committed to our mission and vision, we will redouble our efforts to expand into new markets, continue driving fundamental technology innovation and grow our team,” said Circle co-founder and CEO Jeremy Allaire. 

The company added that the money will be used “to drive our market expansion and growth.”

A spokesperson told Decrypt, "We're seeing customer demand around the world and to support accelerated growth we plan investments in every region."

Circle works to help online businesses adopt stablecoins and send payments. Along with Coinbase, the US’s first public cryptocurrency exchange, the company launched USDC in 2018. Circle has since attracted top talent in the peer-to-peer payments industry, including the ex-executive vice president of Facebook’s Diem.

[Silent Watcher]

Avoid unnecessary posts such as 'Thank you', 'Welcome', etc. Such posts will be deleted and user will be warned if it happens again. If caught spamming, the following actions are applicable -

• First time - Warning
• Second time - 5000 Points will be deducted
• Third time - Ban for 7 days
• Fourth time - Permanent Ban

If the post helped you, reward the user by reacting to the post like this -