USD Coin issuer Circle Internet Financial Ltd. secured some $400 million in its latest round, participated in by BlackRock Inc. and Fidelity Management and Research LLC.
USDC is up 0.03%, and BLK up 0.43%
Other investors who participated in the latest funding round include Marshall Wace LLP and Fin Capital, indicating wider adoption of cryptocurrencies and similar assets by the biggest players on Wall Street.
New York-based BlackRock also inked a partnership deal with Circle, which covers ventures into capital-market applications for the USD Coin. It currently serves as the primary asset manager for the USD Coin’s cash reserves.
Circle Chief Executive Officer Jeremy Allaire welcomed the latest development, noting that digital dollar currencies such as USDC are “fueling a global economic transformation.”
The latest funding round is expected to be finalized in the second quarter of the year.