Circle receives $400 million in funding

USDC stablecoin company Circle announced a $400 million in funding in a recent press release.

Such large investors as BlackRock and Fidelity allocated funds for its development. Circle's valuation rose to $9 million during the fundraising round. Marshall Wace and Fin Capital also participated in the funding round.

According to experts, the issuer intends to expand the use of its stablecoin as part of a strategic partnership with BlackRock. Circle CEO Jeremy Aller says it's going to be an important year.

Additional funding will spur a new wave of growth in the company's performance, which will positively affect the prospects for the second most popular stablecoin USDC. His influence is transforming the global economy, and Circle is ready to continue to support these critical changes.

Through a partnership with the largest investment company BlackRock, the stablecoin from Circle will be able to integrate into traditional capital markets. This will lead to the transition of stablecoins from a purely cryptocurrency to a wider financial sphere.

Recall that the previous Circle funding round took place less than a year ago. Last time, the FTX exchange, the investment giant Fidelity and the Digital Currency Group company allocated funds for the development of the company. In total, $440 million was collected.

In late 2022 - early 2023, the stablecoin issuer also plans to enter the traditional finance market. Public status will open up new perspectives for him. The company's shares will be traded on the stock exchange under the ticker CRCL.

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