Circle, the company behind the USDC stablecoin, doubles valuation to $9 billion in updated SPAC deal

  • 📰 CNBC
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Circle, the firm behind the stablecoin USDC, has doubled its valuation to $9 billion after a new deal with blank-check company Concord Acquisition Corp.

Watch CNBC Crypto World's full interview with Circle CEO Jeremy Allaire on the company's new valuation

"We have an SEC qualification process that we're going through, we've been through multiple rounds of comments on that and that's just taking longer," Allaire said. He added that the extra time is necessary to a new company and industry, and that if approved, Circle will be better off for it down the line.

Circle may be twice as expensive for shareholders of Concord, the SPAC planning to take it public, but Allaire said he sees it as a testament to what his company is building. Stablecoins are digital currencies designed to be less volatile than cryptocurrencies by pegging their market value to an outside asset like the U.S. dollar. That makes them potential bridge currencies between volatile crypto assets and more stable, traditional assets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

It's very easy learning and investing with MarkBromfield00 and I think you need to invest with him cause he's trust worthy and keep to his words about your profit, so far so good we have not make losses with MarkBromfield00... No extra charges hidden while trading

If you are looking for where to learn and invest with little start-up capital then contact MarkBromfield00 is the man I recommend for you, contact him and tell him what you need, nothing is too good to be true, he is legit true as I was refer to him too

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines