USDC’s Issuer Circle Internet Financial Has Announced its $400M Funding Round Today

USDC’s Issuer Circle has announced its $400M funding round

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 continue 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.”

Circle’s USDC Stablecoin Reserves Will Be Held By BNY Mellon

A few days ago, peer-to-peer payments processor Circle Internet Financial announced that it has chosen the Bank of New York Mellon Corporation, also known as BNY Mellon, to become a primary custodian for its USD Coin (USDC) reserves.

Per the press release, the new partnership between Circle and 237-year-old BNY Mellon will “facilitate an exchange of expertise on a range of topics across digital and traditional markets.”

BNY Mellon’s appointment as a primary USDC custodian also “supports the broader marketplace and brings value to clients, founded on our role at the intersection of trust and innovation,” said Roman Regelman, the bank’s CEO of asset servicing and head of digital.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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