Blockchain fintech Circle raises $440mn as USDC hits $22bn in circulation

Circle announced it has raised $440 million in financing from institutional and strategic investors. The company is a global fntech that provides payments and treasury infrastructure for internet businesses. Financing will be used for continued growth, organizational development and market expansion opportunities aimed at marrying the existing financial system with breakthroughs in digital currency within payments and finance.

Underpinning this growth is Circle’s principal contribution in the rapid rise of stablecoin USD Coin, or USDC, which now stands at $22 billion in circulation. USDC has grown by 436% in 2021 alone, and over 28,000% over the past 12 months.

The financing included investments from leading private equity, institutional and strategic investors, including Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC, as well as Michael J. Price and Friends.

Read the full release

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