Main navigation

Circle Completes Mammoth $440 Million Funding Round

News
Fri, 05/28/2021 - 18:19
article image
Alex Dovbnya
Circle has raised a whopping $440 million during a monstrous funding round
Circle Completes Mammoth $440 Million Funding Round
Cover image via www.circle.com
Read U.TODAY on
Google News

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  

Related
Edward Snowden: Biden’s $6 Trillion Budget Is Good for Bitcoin

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.     

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.