Circle, creator of the USD Coin (USDC) has made history by securing $440 million in private investment funds, the largest investment round recorded.
According to reports, the deal made on May 28 placed Circle at the top of Forbes‘ list of largest investment rounds. Toppling the previous record holder, Bitmain, which secured a $422 million Series B1 round all the way back in 2018.
The payments and treasury infrastructure provider best known as one of the principal developers of the $22 billion stablecoin USDC raised $440 million from a large group of institutional and strategic investors. Circle’s platform has supported more than 100 million transactions by more than 10 million retail customers and over a 1,000 businesses, according to a statement. Circle also recently became Visa’s V partner to help businesses on the network settle transactions in USDC. Over the past year, USDC has supported over $615 billion in transactions – a growth of more than 28,000% in the past 12 months.
The investment comes from a range 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.
Sources: Yahoo Finance, Forbes Crypto