USDC issuer has raised investments of $400 million

The round was led by the international investment company BlackRock

14.04.2022 - 07:40

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What’s new? Circle, the issuer of the USDC digital stablecoin, has raised $400 million in investments from large companies and funds: BlackRock, Fidelity, Marshall Wace, and Fin Capital. The round is scheduled to close in the second quarter of 2022, according to a press release from Circle.

The full version of the press release

What is known about Circle’s plans? As part of an expanded collaboration with one of the world’s largest asset management companies, BlackRock, the parties will explore opportunities to apply USDC in the capital market.

Circle co-founder and CEO Jeremy Allaire stressed that digital currencies are fuelling global economic transformation and Circle’s technology structure is at the center of these changes.

Circle is the issuer of the USD Coin (USDC) stablecoin. As of April 14, 2022, the asset ranks fifth in the ranking of the largest cryptocurrencies by capitalization ($50,4 billion) according to CoinMarketCap.

What had happened before? On April 1, 2022, Circle Internet Financial selected investment bank, BNY Mellon, as a custodian for USD Coin (USDC) reserves.

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