Chinese company Bitmain has capitalized the Circle start up to $ 3 billion

Circle Internet Financial Ltd, based on Goldman Sachs American FinTech, received a capitalization of $ 110 million, which made it the most highly financed start-up in the US.

Circle Internet Financial Ltd is supported by the Chinese giant Bitmain, which invested $ 110 million in the course of the next round, as a result of which the startup was able to climb to the level of total financing equal to $ 3 billion. It is known that IDG Capital Partners, a co-investor of both companies, participated in the round.

In addition, during the round, it was announced the beginning of a joint work with Bitmain to create a USD-denominated cryptocurrency USD Coin (USDC), based on government regulation through the national currency. In order to reduce volatility and ensure stability for customers, Circle will be asked to keep $ 1 for each USDC coin in their account.

financeCircle’s CEO Jeremy Allaire argues that the dollar, working on the blockchain, is a solution that opens amazing opportunities for the national currency. Source: bitcryptonews.ru

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