Circle (company) – Wikipedia

Peer-to-peer payments engineering caller
Circle is a peer-to-peer payments engineering company. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle ‘s mobile payment chopine, Circle Pay, allows users to hold, send, and receive traditional decree currencies. [ 1 ] In September 2015, Circle received the inaugural BitLicense issue from the New York State Department of Financial Services. [ 2 ] [ 3 ] [ 4 ] In April 2016, the british government approved the first base virtual currency licensure to Circle. [ 5 ] Circle is headquartered in Boston, Massachusetts. [ 6 ] astir until December 2016, Circle Pay besides operated as a Bitcoin wallet service to buy and sell Bitcoins. [ 7 ] [ 8 ] [ 9 ] It has since ceased to provide such military service, claiming the company “ is immediately more than always not a consumer bitcoin exchange, and will continue to focus resources on ball-shaped social payments and future next-generation blockchain technology “. [ 10 ] In February 2020, Circle sold its digital asset trade platform to Voyager Digital. [ 11 ]

In July 2021, Circle announced a design to merge with a special-purpose acquisition company called Concord Acquisition Corp. to go public, a deal that values the company at $ 9 billion. [ 12 ] circle is the issuer of the USDC stablecoin. [ 13 ]

Funding [edit ]

The ship’s company has received over US $ 135 million in venture capital from 4 rounds of investments from 2013 to 2016, including US $ 50 million led by Goldman Sachs. [ 14 ] [ 15 ] [ 16 ] In April 2015 The New York Times reporter Nathaniel Popper wrote that the Goldman Sachs investment “ should help solidify Bitcoin ’ sulfur reputation as a technology that serious fiscal firms can work with. ” [ 17 ] In June 2016, Circle raised US $ 60 million in Series D fund backed by raw and existing partners. [ 18 ] On May 15, 2018, Circle raised US $ 110 million in venture capital to create USD Coin, an Ethereum mint they claim is backed by USD. [ 19 ] [ 20 ]

Services and features [edit ]

As of 2015 a Circle account can be funded in USD via “ US-issued Visa and MasterCard citation and debit cards ”, US trust accounts. [ 21 ] As of 2016, european customers can besides use Circle in EUR and GBP. [ 22 ] Circle plans to peg the conversion rate to the US Dollar. [ 23 ] [ 20 ] Britain ‘s Financial Conduct Authority granted Circle an electronic money license in April 2016, expanding the use of Circle ‘s services to the United Kingdom and broadening Circle ‘s kinship with UK bank Barclays. [ 24 ] In June 2016, Circle announced it will begin expanding its services to China, where CEO Jeremy Allaire believes “ there ’ s an opportunity for chinese consumers that want to share value globally with friends in other parts of the world. ” [ 25 ] In December 2016 the Circle app stopped supporting the exchange of bitcoin but hush allows money transfers. [ 26 ] In October 2017, Circle launched a newfangled military service for group payments and cash transfers to US accounts. [ 27 ] [ 28 ] In June 2019 it was announced that the Circle Pay mobile and world wide web apps would be discontinued on September 30. [ 29 ]

Acquisitions [edit ]

On February 26, 2018, Circle announced that they purchased Poloniex Cryptocurrency exchange for $ 400 million. [ 30 ] [ 31 ] Amid the developments around the skill, one of Circle ‘s leak documents detailing its plans on operate Poloniex revealed the company ‘s moves to become “ The US ‘s First Regulated Crypto Exchange ” supported by its reciprocal agreement with the SEC.

While Circle announced the exchange would “ spin out ” in October 2019, [ 32 ] it was revealed one month late that Justin Sun, founder of Tron, led the acquisition of Poloniex. [ 33 ] In October 2018 SeedInvest announced they entered an agreement to sell to Circle, subject to FINRA ( Financial Industry Regulatory Authority ) approval. [ 34 ]

References [edit ]

source : https://ontopwiki.com
Category : Finance

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