Crypto finance company Circle—which is known as the issuer of the USD Coin (USDC) stablecoin—has raised a staggering $440 million during its latest funding round.
CEO Jeremy Allaire says that his company will use the cash pile to expand into new markets:
As a company, Circle has remained committed to our mission of raising global economic prosperity through the power of digital currency, blockchains and breakthroughs in programmable money. The sustained global demand for our services powering the growth of USDC, as the most trusted and well regulated dollar digital currency, signals that we are one step closer to achieving our mission. 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
Fidelity, Marshall Wace, Digital Currency Group, FTX, and others have participated in the mammoth investing round.
Wiht a market cap of $22 billion, USD Coin is currently the eighth biggest cryptocurrency, surpassing Polkadot and Uniswap.