Circle, the issuer of USDC stablecoin raises $400M in funding round.

Circle Internet Financial, the issuer of the USDC stablecoin announces $400 million in funding round including BlackRock and Fidelity. According to the announcement, BlackRock will serve as primary asset manager of USDC cash reserves.

Last month, the firm announced BNY Mellon would serve as a primary custodian of the assets backing USDC stablecoins.

USDC is currently the second biggest digital dollar currency with over $50 billion in circulation across multiple blockchains like Ethereum, Stellar, Tron, Solana. According to Coingecko, stablecoin market capitalization is currently over $189 billion.

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