Published on May 16th, 2018 | by bitcoin0
Plans to Launch USD-Backed Coin With Circle Raises $110Mn
Circle now joins Coinbase as one of the most well-funded cryptocurrency companies in the U.S., and the Boston-based firm has announced plans to issue a dollar-backed cryptocurrency called USD-C.
Also read: Yahoo!
Japan Confirms Entrance Into the Crypto Space
Circle Raises $110Mn — Plans to Launch Stablecoin
Circle has big plans ahead for its latest mobile project called ‘Centre’ while also revealing its plans to create a stable coin much like the currency Tether (USDT).
In addition to the injection of capital, Circle says it is planning to launch a new cryptocurrency that is backed by the price and reserves of USD.
“Something like this makes it more possible.”
A Partnership With Bitmain
Circle also detailed that Bitmain will also be helping with the Centre project and the USD-C launch.
In addition to Centre and the new USD-C token that will launch this summer, Circle says it also has plans for Circle Invest, Circle Trade, Circle Pay, and the newly acquired Poloniex exchange.