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FT Partners Advises Circle on its $25,000,000 million Financing from Digital Currency Group

Overview of Transaction

  • On July 30, 2020, Circle announced it has raised $25 million in financing from Digital Currency Group as part of a strategic partnership with Genesis aimed at enhancing Circle’s new suite of products for businesses and developers with USDC-based yield and lending services
  • Digital Currency Group is the parent company of Genesis
  • Circle is a global FinTech firm that enables businesses of all sizes to harness the power of digital currencies and blockchains for payments, commerce and financial applications
  • Circle is the pioneer of USDC, the fastest growing, regulated digital currency backed by the US Dollar
  • In Q2 2020, Circle launched its new suite of Platform Services, providing businesses with a comprehensive suite of products and APIs for integrating and implementing stablecoins for payments, global commerce, and financial applications

Significance of Transaction

  • Through the partnership, Circle and Genesis will offer market solutions for businesses and developers who are seeking to generate strong positive yield from their own or customer USDC holdings
  • The partnership will also provide access to USDC-based credit for businesses and merchants that are using USDC for treasury operations and business payments
  • Circle and Genesis have established a leadership position providing core infrastructure supporting a new global financial system

FT Partners' Role

  • FT Partners served as exclusive financial advisor to Circle
  • This transaction highlights FT Partners’ deep domain expertise in the digital asset and and blockchain sectors, as well as its successful track record generating highly favorable outcomes for high-growth FinTech companies globally