BlackRock Joins Circle’s $400 Million Funding Round


  Payment technology company, Circle has become the latest firm in the financial ecosystem to raise significant funds for its expansion. The company has entered into an agreement for a funding round worth $400 million.

  BlackRock, the worlds largest investment manager, has joined the recent funding round along with Fidelity, Marshall Wace and Fin Capital. Moreover, BlackRock has developed a strategic collaboration with Circle to explore capital market applications for USDC.

  Amid the growing adoption of USDC and a jump in demand for the company‘s services, Circle’s valuation has increased significantly in the past few months. In February this year, Circle topped the valuation of $9 billion

  “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, the Co-Founder and CEO of Circle. “Its particularly gratifying to add BlackRock as a strategic investor in the company. We look forward to developing our partnership.”

  In terms of market cap, USDC is one of the largest digital currencies in the world. According to Circle, over $50 billion worth of USDC is in circulation. With the new funding, the company aims to accelerate the adoption of the growing digital asset. Earlier this month, WorldPay announced that it is planning to offer merchants direct settlement in USDC.

  “The new funding promotes Circles continued strategic growth as demand for dollar digital currency and related financial services continue to scale globally. USDC is one of the fastest-growing dollar digital currencies with over $50 billion in circulation,” Circle added.

  In May 2021, Circle raised $440 million in a funding round that saw participation from some of the worlds leading investors, including Fidelity Management, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital and Digital Currency Group.


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