The second-largest stablecoin, U.S. Dollar-pegged USD Coin (USDC) by Circle Inc., can be used to fund AngelList residents as the platform rolls out a major update.
USD Coin comes to AngelList
According to a joint official announcement from Circle and AngelList, the two teams have entered into a partnership. USD Coin by Circle becomes the latest instrument of start-up funding on AngelList.
Introducing USDC Enabled Funds.— AngelList (@AngelList) September 28, 2021
Investors can now invest via USDC in any USDC-enabled syndicate or fund. pic.twitter.com/Vpx6dXj1W9
Thus, VC capitalists and angel investors can support AngelList residence with stablecoins by investing them in a USDC-enabled syndicate or fund.
Jeremy Allaire, CEO and co-founder of Circle Inc., stresses that his main product evolves into a novel way of start-up funding, and it is only the beginning:
Super excited to partner w/ AngelList on one of the fastest growing methods of startup funding and eventually treasury operations.
That said, the addition of USD Coin to AngelList's range of instruments can significantly democratize the process of investing into early-stage startups.
From platform to ecosystem: What's new in the AngelList Stack?
USDC integration is a part of the AngelList Stack update: the iconic platform adds a new suite of products to its toolkit. With the AngelList Stack, all clients of the platform will be provided with a holistic one-stop environment for the growth of its products.
AngelList Stack includes a "founder-friendly" way of incorporating, supports physical and virtual debt cards and boasts single-link fundraising.
A new set of workflows is designed to automate the processes of banking, equity management, fundraising and hiring, as per its team's statements.