Circle, creator of USD Coin (USDC) has made history by raising 440 million dollars in private investment funds, thus registering the largest investment round in crypto history.
The deal carried out on May 28 reportedly placed Circle at the top of Forbes’ list of the largest investment rounds.
In this way, he surpassed the previous record holder Bitmain, which secured a $ 422 million Series B1 round in 2018.
Investment
The investment comes from a variety of companies, including private equity firms, as well as institutional and strategic investors.
Specifically, Fidelity Management and Research Company, Marshall Wace, Digital Currency Group, FTX, and Breyer Capital are among the investors.
USDC stablecoin
The company’s co-founder and CEO, Jeremy Allaire, posted a four-tweet announcement thread about investing.
The first of that thread said that the funds would be used to accelerate the company’s “growth and market expansion”:
“This comes on the heels of extraordinary growth in USDC adoption and acceleration in our business.”
USDC
Allaire went on to say later in the thread:
“We are excited and honored by the support and partnership with these great investors, and excited to continue to build an enduring institution that we believe can help transform the global financial system on the basis of the open Internet.”
Circle, which is known as the main developer of the USDC stablecoin, last valued at $ 3 billion.
FTX
On May 14, the FinTech firm made headlines by announcing its partnership with the FTX exchange.
The collaboration will provide payments infrastructure for Internet companies and will allow Blockfolio and FTX users to fund dollar balances with instant access.
This, in turn, allows transactions to be made by credit or debit card in more than 175 countries.
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Reports indicate that FTX had already integrated Circle APIs and USDC payments.
Crypto investments make history in 2021
2021 is proving to be a year for record investments in cryptocurrencies.
Circle’s $ 440 million investment it is the largest in history and it is the fifth to be among the 12 largest investments in cryptocurrencies in history this year.
BlockFi, currently third on that list, raised $ 350 million in Series D funding in March.
Almost two weeks later, Blockchain.com secured $ 300 million in its Series C round.
At the end of the same month, Dapper Labs made $ 305 million in its fifth round.
Most recently, on May 5, Bitso raised $ 250 million in its own Series C round.
USDC strengthens
At press time, the USDC was ranked as the 8th most valuable cryptocurrency by market capitalization.
According to data. It is still the second largest stablecoin in the world.
This is a continuous increase in your reputation, after entering the 10 most valuable cryptocurrencies on May 24.
usdc
In this way he reaches a milestone together with his partner Tether (USDT), stablecoin that surpassed the $ 60 billion threshold for market capitalization.
Data indicates that the USDC’s current market capitalization was over $ 22 billion at press time.
Post Circle raises $ 440 million in the largest investment round in crypto history was first seen on BeInCrypto.
