BTCC
/
BTCC Square
/
Global Cryptocurrency
/
BlackRock Secures 10% Stake in Circle’s IPO, Boosting USDC’s Institutional Credibility
BlackRock Secures 10% Stake in Circle’s IPO, Boosting USDC’s Institutional Credibility
5
2
USDC News -
BlackRock is set to acquire roughly 10% of Circle’s shares in its upcoming IPO, as reported by Bloomberg. This investment strengthens an existing partnership, with BlackRock already overseeing the Circle Reserve Fund—which holds 90% of USDC’s reserves. The offering, priced to raise $624 million, has seen orders oversubscribed ahead of its June 4 pricing date.
Circle’s move highlights growing institutional confidence in stablecoin issuers. USDC, the second-largest dollar-pegged stablecoin, boasts a $61.3 billion market cap and remains critical for crypto transactions. This deal represents one of the largest single-investor commitments to a crypto firm to date.
By:
Previous
BitMEX Expands High-Leverage Offerings with New MOONPIGUSDT Perpetual Swap
Next
SUI Network Establishes $10M Security Fund After Cetus Protocol’s $223M Exploit
