Circle Raises $110 Million and Launches USD Backed Coin

Bitmain and Circle are collaborating to create fiat-based tokens backed by USD
16 May 2018   934

In March 2018 we have reported about Circle, which was planning to launch mobile app to allow instant cryptocurrency trading with zero commission. In May 2018 Circle Internet Financial added Monero support for their cryptocurrency trading app Circle Invest, which was released in spring.

The mining company Bitmain Technologies was holding a funding round for Circle Internet Financial, and on May 15 it was closed for $110 million. According to Bloomberg, Bitmain and Circle are collaborating to create fiat-based tokens backed by USD, which will be released by Circle in summer.

It’s a version of fiat that can move at the speed of the Internet with global reach, with much less cost, with high levels of security. It’s a huge improvement for how fiat money transmission can work around the world for consumers and for businesses who might want to collect digital payment with tokens.
 

Jeremy Allaire

Chief Executive Officer, Circle

The USD Coins of Circle will be issued under the ticker USDC and be stable coins having no volatility. USDC will be an ERC-20 token, based on the Ethereum network. According to Circle co-founder Sean Neville, the company hasn’t decided yet whether it will charge fees for trading USDC as the main goal is to boost USDC use among the users.

ICOs to Lose Popularity, Diar Research Say

Diar assumes that in the future unregulated ICOs won't attract significant attention
11 December 2018   25

Although since the beginning of this year, ICO-startups have managed to raise over $ 12.2 billion, the November figure was only $ 65 million, according to data from a new study of the Diar portal.

According to analysts, the once popular method of financing, which allowed startups to attract tens and hundreds of millions of dollars in the absence of any product, exhausted itself against the background of fears about regulators' actions and the general dynamics of the cryptocurrency market, which did not leave retail investors with anything except for an unpleasant aftertaste.

This version is also supported by the data from the TokenData portal, which Diar leads in his research. Even with respect to the October levels, which constituted only a small fraction of what could be collected a few months ago, the November figures were 3 times lower.

Diar assumes that in the future unregulated ICOs as we have known them over the past years will no longer attract significant attention and will give way to regulated platforms of tokenized securities.