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Apr 13, 2022
by Jafrin Ahmed
USDC Issuer Circle Raises $400M from BlackRock, Fidelity
USDC stablecoin issuer Circle has raised $400 million in a new funding round that is expected to close in the second quarter of the year. Investors in the round include BlackRock, Fidelity Management and Research, Marshall Wace and Fin Capital.
BlackRock Backs Circle, Deepens Partnership
The issuer of stablecoin USD Coin, Circle Internet Financial has announced a $400 million fundraise that is expected to close in the second quarter.
The funding round included investments from multinational investment firm BlackRock Inc., advisory firm Fidelity Management and Research, London-based hedge fund Marshall Wallace LLP and Fin Capital. It follows a $440 million funding round raised in May last year
In addition to the funding round, BlackRock and Circle also revealed a new strategic partnership to focus on exploring capital market applications for USDC.
"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. It's particularly gratifying to add BlackRock as a strategic investor in the company. We look forward to developing our partnership." said Jeremy Allaire, Co-Founder and CEO of Circle stated in the announcement release.
Circle is the issuer of USD Coin (USDC). The stablecoin has a market cap of about $50 billion and market dominance of about 2.57% at the time of writing.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.