BlackRock is exploring capital market applications for the USDC stablecoin as part of its new investment in the USDC issuer Circle.
), has announced a $400 million funding round and a new partnership with the American investment firm BlackRock.
The USDC issuer has entered into an agreement for a funding round featuring investors like BlackRock, the investment advisory firm Fidelity Management and Research, the London-based hedge fund Marshall Wace and Fin Capital, as Circle officiallyApart from providing strategic investment and being primary asset manager of USDC cash reserves, BlackRock has inked a broader strategic cooperation with Circle.
The funding aims to promote Circle’s development amid the growing demand for the United States dollar-based digital currency. USDC is one of the fastest growing dollar digital currencies,
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