Circle bags £300m from BlackRock to compete with top stablecoin Tether
Web3 finance firm Circle has agreed to a $400 million (£307m) funding round as part of a broad strategic partnership with BlackRock.
As the issuer of stablecoin USD Coin (USDC), Circle is responsible for the fifth largest cryptocurrency by market cap alongside a host of decentralised finance (DeFi) tools.
The funding round is expected to close in the second quarter with other investors including Marshall Wace LLP and Fin Capital.
In addition to the capital...