Circle's $400 Million Funding Round Joined By Investment Giants
BlackRock, the world's largest investment manager, has joined the funding round along with Fidelity, Marshall Wace and Fin Capital.
Global financial technology firm Circle – issuer of USD Coin (USDC), one of the fastest growing dollar digital currencies with over $50 billion in circulation – announced that it has entered into an agreement for a $400M funding round with investments from world’s largest asset manager BlackRock, Fidelity Management and Research, Marshall Wace and Fin Capital.
“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,” said Jeremy Allaire, Co-Founder and CEO of Circle. “It’s particularly gratifying to add BlackRock as a strategic investor in the company. We look forward to developing our partnership.”
The new funding round – that is expected to close in the second quarter – promotes Circle’s continued strategic growth as demand for dollar digital currency and related financial services continues to scale globally.
In addition to its corporate strategic investment and role as a primary asset manager of USDC cash reserves, BlackRock has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC.