Circle’s Raises 0M As BlackRock Becomes Primary USDC Asset Manager
USDC stablecoin issuer, Circle Internet Financial announced a $400 million raise in a funding round with participation of BlackRock, Fidelity, Marshall Wace LLP and Fin Capital.
A Tuesday press release reveals that the world’s largest asset manager, BlackRock, “has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC.”
In addition, BlackRock will function as “a primary asset manager of USDC cash reserves,” the statement reads.
Circle CEO and co-founder, Jeremy Allaire, said:
“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.
It’s particularly gratifying to add BlackRock as a strategic investor in the company. We look forward to developing our partnership.”
Late lost month, Circle selected America’s oldest investment bank, BNY Mellon, to custody the firm’s usd coin (USDC) reserves.
BlackRock, with over $10 trillion under management, is rumored to soon bring cryptocurrency trading services to its investor clients.
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Source: igaming
