American payment company Circle intends to raise $250 million, writes the portal The Information citing people familiar with the situation sources.
Circle, the operator of the cryptocurrency exchange, Poloniex and the Issuer stablon USD Coin, in the course of previous rounds of Finance raised $246 million from investors like Goldman Sachs, Baidu and IDG Capital. Last year, the market valuation of Circle, presumably, was about $3 billion.
In an interview this week the CEO of Circle Jeremy Allaire announced that his company is always looking for diverse sources of capital, but declined to go into details. According to The Information, it is possible that the Circle will not be able to collect the designated amount or be forced to accept lower capitalization.
Aller added that the decline in the crypto-market in 2018 have a negative impact on performance of the Circle, the main source of income are fees. In January, the company announced that sales of its OTC platform institutional level Trade Circle in 2018 amounted to $24 billion.
In December, Allaire suggested that in 3 years bitcoin will be worth “much more” than in that moment.
Discuss current news and events on the Forum