Circle has attracted 110 million. The company wants to create a cryptocurrency pegged to the dollar

In early may, the Fund’s Peter Thiel’s Founders Fund has invested approximately 15.5 million dollars in Bitcoin-startup Tagomi. Now another cryptocurrency project, the developer of the payment system and cryptocurrency store Circle, has attracted a $ 110 million investment from Bitmain. This writes Cointelegraph.

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In addition, a Chinese manufacturer of equipment for mining, the round was attended by Breyer Capital funds, Tusk Ventures, IDG Capital, Pantera Capital and the Blockchain.

Circle has developed its own payment system that allows you to translate both Fiat and cryptocurrency without a fee. In addition, the company is developing a virtual repository for digital money. Soon the company will launch a USD Coin, pegged to the U.S. dollar.

One USD Coin will cost $ 1. Circle in hopes that the coin will be less volatile than other tokens. The representative of the project told the publication that several banks had already agreed to the transaction processing with the token. Their names were not disclosed, but journalists say that one of them might be Goldman Sachs. Earlier, the financial institution has invested in a startup tens of millions of dollars.

In the future, the Circle intends to launch tokens that are pegged to the Euro and pound. Market Asian currencies, the company does not intend to leave because of too high competition.

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