- Circle Internet Financial plans to raise the funds using a combination of both equity and debt.
- Circle sent a strong message by purchasing a leading crypto exchange company; Poloniex.
A financial startup headquartered in Boston, Circle is reported to be considering another investment round that will see it raise $250 million. According to The Information on March 2, Circle Internet Financial plans to raise the funds using a combination of both equity and debt.
According to another publication referred to as Crunchbase, Circle has already raised $246 million. In May 2018, the firm raised $110 from the leading Bitcoin mining company Bitmain. At the time, Circle was valued at $3 billion. Other firms that invested in the startup include Accel, Blockchain Capital, Digital Currency Group, IDG, and Pentera.
In 2018, Circle sent a strong message by purchasing a leading crypto exchange platform referred to as Poloniex in a deal that saw it part with $400 million. Circle is backed by the leading investment bank, Goldman Sachs and offers institutional clients with over-the-counter trading services for digital assets.
In January 2019, Circle reported that it had handled $24 billion of digital assets’ trades since 2018. However, its revenue suffered greatly following the downtrend in cryptocurrency prices.
The firm is also the issuer of a dollar-pegged digital asset referred to as USDC. The stablecoin stands out from the rest due to its monthly audited reports.
Share
