
Circle has confirmed that it is on course to securing approval for a bank charter and is already discussing with regulators.
BlackRock is an investment company that offers its services to institutions, intermediaries, foundations, and individual investors.
BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $7.4 trillion in assets under management as of end-Q4 2019. BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries. Due to its power, and the sheer size and scope of its financial assets and activities, BlackRock has been called the world’s largest shadow bank.
Circle has confirmed that it is on course to securing approval for a bank charter and is already discussing with regulators.
BlackRock and Circle have on top of the funding signed a strategic partnership to market the use of the USDC coin.
Allaire referred to the funding as a milestone moment for Circle. He said the round is part of the “coming of age” of crypto as Circle continues to target the mainstream adoption of USDC.