Global fintech Circle announced on Friday it secured $440 million through its latest investment round. Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC, as well as Michael J. Price and Friends participated in the round.
As previously reported, Circle enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce, and financial applications worldwide
“Circle’s platform has supported over 100 million transactions worth tens of billions of dollars, with nearly 10 million retail customers, over a thousand businesses, while storing and securing more than $5 billion in digital currency assets.”
While sharing more details about the company’s growth and development, Jeremy Allaire, Circle Co-Founder and CEO, stated:
“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.”
The latest investment round news comes less than two weeks after Circle appointed Mandeep Walia as its new Chief Compliance and Risk Officer. Circle reported that Walia will work with its leadership in helping “harmonize compliance standards” as a part of the company’s broad commitment to ensuring that open standards are not in conflict with compliance. According to Circle, Mandeep has an extensive career in the payments, banking, and financial services industry. He previously held roles in various companies such as PayPal, State Street, LendUp, Bank of the West, and Facebook’s digital wallet business, Novi.