USDC stablecoin issuer Circle announced that it has partnered with BlackRock.
Circle has recently raised $400 million from major financial firms such as BlackRock, Fidelity, Marshall Wace and Fin Capital.
BlackRock entered into a strategic partnership with Circle with its investment. The company plans to explore applications for USDC in the capital markets.
Over $50 billion USDC has now been issued, making this asset the fifth largest cryptocurrency by market cap. Another stablecoin, USDT, also ranks 3rd. The interest in stablecoins in the crypto industry is quite high.
Circle CEO Jeremy Allaire used the following statements regarding the BlackRock partnership:
“Dollar-pegged digital currencies like USDC are fueling a global economic transformation and Circle’s technological infrastructure is at the center of this change
It is a pleasure to add BlackRock to the company as a strategic investor. We look forward to developing our partnership”
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