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   308

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.

PascalCoin to activate V3 Hard fork

PascalCoin V3 Hard fork will be activated on block 210,000 on May 31 and feature anonymity via transaction mixing and inflation reduction
26 May 2018   39

PascalCoin is preparing for V3 Hard fork scheduled for May 31. It will introduce key improvements as such:

  • anonymity transaction mixing;
  • 50% inflation reduction;
  • Lazarus/FPC gets 10% of funding

To get more into the details:

PascalCoin transactions occur between publicly visible accounts and the crucial aspect needs to be implemented - fungibility. The improvement will allow users to perform 'client-server mixing', 'network-protocol mixing', 'chaining multi-transactions', 'decentralized exchanging' and 'monetized-API mixing'.

As for Lazarus/FPC (a base tooling from which PascalCoin is founded on), a total of 10% of the Developer Rewards is recommended to be allocated for the FOSS project funding. In a long run, a large developer mind-share is expected to reduce costs significantly.

To learn more about the details of the fork, you can visit Improvement Proposal page here. And regarding the market characteristics of PascalCoin, at the moment of publication they are as follows:

Average price 0.765895 USD
Market cap 15,978,408 USD
Volume (24H) 89,861 USD