Circle Internet Financial, the issuer of the stable coin USD Coin (USDC), announced it has entered into an agreement for a $400M funding round. In particular with investments from BlackRock, Inc., the American multinational investment management corporation.
BlackRock manages $10 trillion, making it the largest money manager in the world.
In addition to its corporate strategic investment and role as a primary asset manager of USDC cash reserves, BlackRock will explore the capital market applications for the stablecoin USDC.
This promotes Circle’s continued strategic growth as demand for digital dollar currencies and financial services scaling globally.
“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.
The funding round is expected to close in the second quarter of 2022.
