Blockchain-based money transfer platform Circle has secured $25mn from Digital Currency Group; the firm also struck a partnership with Genesis, institutional trading firm offering two-sided liquidity for digital currency; Genesis CEO Michael Moro tells Finovate, “With the rapid rise of USDC, we are clearly seeing mainstream momentum for digital currencies, and through this partnership with Circle we believe we can materially advance our shared mission of building a new global financial system.”; Circle plans to use the fresh capital to accelerate the adoption of USDC, building out their new business account and continuing to refine API products that were first launched early in 2020; “The partnership announced today between Circle and Genesis will bring to market solutions for businesses and developers who are seeking to generate strong positive yield from their own or customer USDC holdings,” said Circle’s Josh Hawkins in a blog post announcement. Finovate.
