finance firm is reportedly looking to raise $250 million of funding in a combination of equity and debt. The source of information are claims made by an anonymous person familiar with the company’s plans, as cited in a by technology website The Information on March 2.
According to the article, Circle — which generates revenue from fees on its ( and the institutional offering Circle Trade) — has seen a decrease in its proceeds after the overall crypto market crash lead to decreased volumes. Still, in an interview with The Information, Circle’s co-founder Jeremy Allaire claimed that the company’s revenue grew between 2017 and 2018 despite the fall in crypto prices.
As Cointelegraph in January, the over-the-counter () crypto desk at Circle (Circle Trade) had a notional volume of $24 billion in 2018.
Circle is also the company behind the dollar-backed USD Coin (USDC), for which the company the third audit report in January. The coin was by to its combined stablecoin market in December last year.
More recently, as part of an overall aim to operate with a broader part of the institutional crypto market, — the exchange founded by the — has the British Telecommunications Radianz Cloud broker community.
Published at Sun, 03 Mar 2019 12:05:09 +0000