Cryptocurrency company Circle has closed a $ 440 million round of funding. Investments were provided by FTX, Digital Currency Group, Fidelity Management, Valor Capital Group and other venture capital firms.
1/4 ANNOUNCEMENT: Circle has raised $440M in a strategic financing to accelerate our growth and market expansion. This comes on the heels of extraordinary growth in USDC adoption, and acceleration across our business. https://t.co/RbWg4O90B1
– Jeremy Allaire (@jerallaire) May 28, 2021
The funds raised by the USD Coin (USDC) stablecoin issuer will be used to accelerate the growth and expansion of the team.
“With the support of influential supporters who share our mission and vision, we will redouble our efforts to enter new markets and continue to drive fundamental technological innovation,” said Jeremy Allair, co-founder and CEO of Circle.
Previously total stablecoin capitalization exceeded $ 100 billion… USDC with over $ 21 billion ranked second after Tether (USDT).
According to two sources The BlockCircle plans to enter the stock market with SPACbypassing the IPO. The company allegedly expects an estimate of $ 4 billion.
Recall in March Circle provided a payment solution for trading platforms and NFT providers.
In January the company simplified the conversion USDC to US dollars.
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