BlackRock, Fidelity and others Invest $400m in Circle

Circle Internet Financial, a global internet finance firm and
the issuer of USD Coin (USDC), has entered into an agreement for
a $400m funding round with investments from BlackRock, Inc., Fidelity Management
and Research, Marshall Wace LLP and Fin Capital.

The funding round is expected to close in the second quarter.

In addition to its corporate strategic investment and role as a primary asset manager of
USDC cash reserves, BlackRock has entered into a broader strategic partnership with
Circle, which includes exploring capital market applications for USDC.

Circle is a global financial technology firm that’s at the center of digital currency innovation and open financial infrastructure. 

The new funding promotes Circle’s continued strategic growth as demand for dollar
digital currency and related financial services continues to scale globally. USDC is one
of the fastest growing dollar digital currencies with over $50 billion in circulation.1

“Dollar digital currencies like USDC are fueling a global economic transformation, and
Circle’s technology infrastructure sits at the center of that change. This funding round
will drive the next evolution of Circle’s growth,” said Jeremy Allaire, Co-Founder and
CEO of Circle.

“It’s particularly gratifying to add BlackRock as a strategic investor in the
company. We look forward to developing our partnership,” he added.