The USDC stablecoin issuer is filling up with capital. Circle thus completes a fundraising of 440 million dollars to finance its growth.
The crypto stock market crash during the month of May does not translate into investor mistrust of companies in the crypto ecosystem. The Circle company thus finalizes a record fundraiser.
The USDC stablecoin issuer on the 2nde stablecoin in capitalization after USDT, formalizes a new round of funding. This translates into funding of $ 440 million, which will enable it to fuel growth and international development.
Over 100 million transactions for Circle
Circle sets itself the goal of " create sustainable and reliable digital financial and payment solutions on public blockchains. The USDC already has a presence on multiple blockchains, including Stellar and Solana.
Circle also has a payments giant, Visa, as a partner. For the first time, Visa processed in March a payment in cryptocurrency (USDC) directly on the Ethereum blockchain.
Circle claims on its platform more than 100 million transactions, 10 million customers in the retail sector and more than 1000 companies. For its development, the publisher can rely on a major partner, Coinbase.
Circle is indeed the main developer of the USD Coin (USDC), together with the US exchange listed on the Nasdaq, and the Center Consortium. Between them, they supervise the standards and the protocol of " the fastest digital dollar currency ".
Stablecoins resist the crypto crisis
The market capitalization of stablecoin is now over $ 22 billion. And the USDC further represents " over $ 615 billion in transactions over the past five years. "
With $ 440 million in new capital, Circle can therefore continue to grow and develop. In particular, the company is recruiting new managers. It recently welcomed Chief Strategy Officer Dante Disparte and Chief Compliance Officer Jeremy Fox-Geen.
In this period of very high volatility, stablecoins are a safe bet for investors. Tether and USD Coin, ranked third and eighth crypto respectively, remained strong despite the market's massive drop.
According to Coingecko, Tether and USDC currently account for 80% of the combined $ 100 billion capitalization of stablecoins. The total supply of all stablecoins jumped almost 190% in the past 90 days.