BlackRock, the world’s largest asset manager, has acquired a taste for crypto – and is digging deep into its pockets to do so.
- Crypto company Circle has announced the closing of a $400 million funding round.
- The funding includes the world’s largest asset manager, BlackRock, Fidelity Management, Marshall Wace LLP and Fin Capital.
- Circle is the issuer of the stablecoin USD Coin (USDC).
- USD Coin is a stablecoin pegged to the U.S. dollar with a market capitalization of $50 billion.
- “In addition to its strategic corporate investment and role as the primary asset manager of USDC cash reserves, BlackRock has entered into a broader strategic partnership with Circle,” according to the press release.
- “Dollar digital currencies like USDC are driving a global economic transformation, and Circle’s technology infrastructure is at the center of that transformation. This round of funding will continue to drive Circle’s growth,” said Jeremy Allaire, Circle’s co-founder and CEO.
- BlackRock CEO Laurence Douglas “Larry” Fink already spoke of “an upswing in digital currencies” in an investor screed at the end of March
Picture by Pixabay
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise