Circle Internet Financial, an internet finance firm and the issue of the USD coin, has secured $400m from an investment round.
The investments came from BlackRock, Fidelity Management and Research, Fin Capital and Marshall Wace. The funding round is expected to conclude in the second quarter.
Established in 2013, Circle enables businesses to harness stablecoins and public blockchains for payments, commerce and financial applications worldwide.
Alongside the funding and its role as a primary asset manager for USDC cash reserves, BlackRock has entered into a broader strategic partnership with Circle, which will involve exploring capital market applications for USDC.
According to Circle, the new funding promotes Circle’s continued strategic growth as demand for dollar digital currency and related financial services continues to grow globally. USDC is currently one of the fastest growing dollar digital currencies with over $50 billion in circulation.
Circle co-founder and CEO Jeremy Allaire said, “Dollar digital currencies like USDC are fuelling 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.”
Circle previously secured $440m in funding back in June 2021.
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