21 April 2022
The cryptocurrency payments company Circle, the issuer of the second largest stablecoin, the USDC, has secured a $400 million dollar investment.
The lucrative deal includes funding from asset management firm BlackRock, and further financing from Fidelity, Marshall Wace, and Fin Capital.
The alliance is further proof that Wall Street is welcoming crypto to meet the surging demand of wallet holders and traders across the globe.
Not even 10 years old, Circle Internet Financial is valued at $9 billion and has plans to go public, with a projected $438 million in revenue from stablecoin reserves for this year and $2.2 billion projected in 2023.
Jeremy Allaire, co-founder and CEO of Circle said dollar digital currencies like USDC are fuelling a global economic transformation, and Circle’s technology infrastructure sits at the center of that change.
Circle’s USDC, which is pegged to the U.S. dollar, is one of the fastest-growing cryptocurrencies today, with more than $52 billion in circulation – and this strategic partnership is just the beginning as financial institutions prepare to offer their customer base fintech services.
Wrapped Qoin looks forward to pair with USDC once it lists on the public exchanges later this year.