Today Circle, the issuer of the USDC stablecoin, announced a $400 million funding round that includes BlackRock, Fidelity, Marshall Wace and Fin Capital. Circle is planning to list through a SPAC deal with the latest agreement in February, upping Circle’s valuation to $9 billion. It has a target transaction date of 22 December 2022.
The current market capitalization of the USDC stablecoin is $50.8 billion, down from $53.5 billion in late February.
Today’s announcement featured significant news that BlackRock plans to explore capital markets applications for USDC. The investment company has ten trillion in assets under management.
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