Circle announces $ 400 million in funding round

BlackRock, Fidelity, Marshall Wace and Fin Capital Join

BOSTON, April 12, 2022 / PRNewswire / – Circle Internet Financial, a global internet finance company and the issuer of USD Coin (USDC), announced today that it has entered into an agreement on a $ 400 million round of funding with investments from BlackRock, Inc., Fidelity Management and Research, Marshall Wace LLP and Fin Capital. The financing round is expected to be completed in the second quarter.

In addition to the company’s strategic investment and role as primary asset manager of USDC liquidity reserves, BlackRock has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC.

The new financing promotes Circles’ continued strategic growth as demand for digital currency in dollars and related financial services continues to scale globally. USDC is one of the fastest growing digital dollar currencies with over $ 50 billion in circulation.[1]

“Digital dollar currencies such as the USDC are fueling a global economic transformation, and Circle’s technological infrastructure is at the heart of this change. This round of financing will drive the next development of Circle’s growth,” he said. Jeremy Allaire, co-founder and CEO of Circle. “It is particularly gratifying to add BlackRock as a strategic investor in the company. We look forward to developing our partnership.”

About Circle
Circle is a global financial technology company that enables companies of all sizes to harness the power of digital currencies and public blockchains for payments, trading and financial applications worldwide. Circle is the issuer of USD Coin (USDC), one of the fastest growing digital dollar currencies, driving internet native trading and payments that are always on. Today, Circles’ transaction services, corporate accounts and platform APIs are giving rise to a new generation of financial services and trading applications that have the promise of increasing global economic prosperity for all through the frictionless exchange of financial value. In addition, Circle operates SeedInvest, a leading startup fundraising platform in the United States. Learn more at https://circle.com.

A complete description of the terms of the proposed transactions (collectively “the Transactions”) between Circle Internet Financial Limited (“Circle”) and Concord Acquisition Corp (“Concord“), will be indicated in an amendment to the registration declaration on Form S-4 to be submitted to the SEC by Circle Internet Finance plc (” the Company “), which will include a power of attorney declaration to the shareholders of Concord which will also constitute a prospectus for the company. ConcordCircle and the Company encourage investors, shareholders and other interested parties to read, when available, the Provisional Statement of Proxy / Prospectus as well as other documents filed with the SEC as these documents will contain important information about Concord, Circle and the Transactions. After the registration declaration has been declared valid, the final power of attorney / prospectus to be included in the registration declaration will be sent to the shareholders in Concord from a registration date to be determined for voting on the Transactions. Shareholders will also be able to obtain a copy of the power of attorney / prospectus free of charge by addressing a request to: Concord Acquisition Corp, 477 Madison Avenue, 22nd Floor, New York, NY 10022. The provisional and final power of attorney / prospectus to be included in the registration declaration, when available, is also available free of charge on the SEC website (www.sec.gov).

Participants in the Convocation
Concord, Circle and the Company and their respective directors and senior executives may be considered participants in the request for proxies with respect to the Transactions under the rules of the SEC. Information on directors and senior executives in Concord is indicated in Concord’s Annual report on form 10-K for the closed financial year December 31, 2021which was filed with the SEC on March 4, 2022. Information about the persons who, in accordance with SEC rules, may be considered participants in the call for shareholders in connection with the Transactions will be stated in the power of attorney / prospectus when it is submitted to the SEC. These documents are available free of charge from the above sources.

Non-call
This document is not a power of attorney or solicitation of a power of attorney, consent or authorization in respect of securities or in respect of the transactions and shall not constitute an offer to sell or an offer to buy the securities from Concord, Circle or the Company, nor may there be any sale of such securities in any State or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State or jurisdiction. No offer of securities may be made except by means of a prospectus complying with the requirements of the Securities Act of 1933, as amended.

Forward-looking statements
This document contains certain statements that are not historical facts, but which are forward-looking statements for the purposes of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe”, “can” , “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “be able to”, “plan”, “predict”, “potential,” ” seems “,” seek “,” future “,” prospects “and similar terms that predict or indicate future events or trends, or that are not statements about historical conditions. These forward-looking statements include, but are not limited to, statements about the expected date of completion of the private funding round. These statements are based on different assumptions and on the current expectations regarding Concord’s and Circles management and are not predictions of actual results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and may not be relied upon by, any investor, as a guarantee, an insurance, a prediction or a final statement of facts or probabilities. Actual events and circumstances are difficult or impossible to predict and will deviate from assumptions. Many actual events and circumstances are out of control Concord and Circle. These forward-looking statements are subject to a range of risks and uncertainties, including general economic, political and business conditions; applicable taxes, inflation, interest rates and the regulatory environment in which Circle operates; the outcome of litigation or other disputes, such as Circle, Concord and / or the company is or may become a party; the inability of the parties to complete the transactions; the risk that shareholders’ approval of Concord or Circle of Transactions is not obtained; failure to realize the expected benefits of the Transactions, including due to a delay in the execution of the Transactions; the risk that the announcement and / or completion of the Transactions will interfere with Circle’s current plans and operations; the risk that any of the conditions for closure are not met in the expected manner or on the expected timeline; the ability to maintain the listing of the combined company’s securities on the New York Stock Exchange; the factors discussed in Concord’s Annual report on form 10-K for the closed financial year December 31, 2021 under the heading “Risk factors” and other documents of Concord filed or to be filed with the SEC. If the risks materialize, or the assumptions turn out to be incorrect, the actual results may differ materially from the results suggested by these forward-looking statements. There may be additional risks Concord, Circle and the Company at present do not know or which they currently consider to be immaterial, which may also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Concord’s and Circle’s expectations, plans or forecasts for future events and views from the date of this press release. Concord and Circle anticipate that subsequent events and developments will cause their assessments to change. Dog mens Concord and Circle may choose to update these forward-looking statements at some point in the future, Concord and Circle specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representative Concord’s or Circle’s assessments from any date after the date of this press release. Therefore, no unnecessary reliance should be placed on the forward-looking statements.

[1] https://www.circle.com/en/usdc

SOURCE Circle Internet Financial, LLC

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