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Circle's significant contribution to a quick rise of USD Coin, or USDC, as the world's leading and fastest increasing dollar digital currency, with a market cap of 22 billion dollars, is underpinning this expansion.
FREMONT, CA: Circle, a global financial technology company that provides internet businesses with payments and treasury infrastructure, said today that it had raised 440 million dollars in funding from major institutional and strategic investors.
The financing, which ranks among the top ten private fintech investments, will help the company expand, build its organization, and expand its market.Following the addition of Dante Disparte as Chief Strategy Officer and Head of Global Policy, Jeremy Fox-Geen as Chief Financial Officer, and Mandeep Walia as Chief Compliance and Risk Officer to Circle's executive team, the company has hundreds of open positions across the United States and around the world.The Circle is currently well-positioned to fulfill worldwide solid demand for its products and services, which targets at bridging the gap between the existing financial system and advancements in digital currency in payments and finance.
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Circle's significant contribution to a quick rise of USD Coin, or USDC, as the world's leading and fastest increasing dollar digital currency, with a market cap of 22 billion dollars, is underpinning this expansion. USDC is increased by 436 percent in 2021 alone and by more than 28,000 percent in the last year.
"As a company, Circle has remained committed to our mission of raising global economic prosperity through the power of digital currency, blockchains and breakthroughs in programmable money. The sustained global demand for our services powering the growth of USDC, as the most trusted and well-regulated dollar digital currency, signals that we are one step closer to achieving our mission. With powerful backers who are committed to our mission and vision, we will redouble our efforts to expand into new markets, continue driving fundamental technology innovation and grow our team," said Jeremy Allaire, Circle co-founder, and CEO.
Fidelity Management and Research Company, Atlas Merchant Capital, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC, and Michael J. Price and Friends were among the top private equity, institutional, and strategic investors who contributed to the financing.
"Circle has been a pioneer in unlocking the potential of blockchain-enabled payments. With USDC's extraordinary growth, Circle has established itself at the center of a new generation of financial services and applications. We are proud to continue to partner with Circle to develop a better global financial system," said Barry Silbert, Founder, and CEO of Digital Currency Group.
"Circle has been an experienced player in making fiat work on blockchains for nearly eight years and has built deep capabilities to ease payments in crypto. At FTX we're excited to partner further with Circle to help expand these capabilities to all crypto users," said Sam Bankman-Fried, CEO of FTX.
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