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The Goldman Sachs Backed startup Circle has announced a new cryptocurrency pegged to the dollar and a $110 million investment round led by profitable crypto-mining company Bitmain on Tuesday. The company is rolling out a digital version of the U.S dollar with a cryptocurrency pegged to it. Interestingly, Circle is one of the most well-funded blockchain startups with Baidu and Goldman Sachs at its foreman investors. The fintech company is involved in its peer-to-peer payment network operations using blockchain, the technology that underpins bitcoin. Circle founders @psneville and @jerallaire took the stage at #Consensus2018 earlier today to announce Circle USDC, a price-stable tokenized US dollar coin. Learn more about it here: https://t.co/8fZN6vDryb — Circle (@circlepa...

U.S.-based payments app Circle has raised $60 million from Chinese investors and launched a company in China, as it seeks to expand in the world's second-largest economy. The latest funding comes from existing investor and Beijing-based tech investment fund IDG Capital Partners, as well as Chinese firms including Baidu, CICC Alpha and Everbright Investments, Circle's co-founder Jeremy Allaire said. "We're not aiming to compete with the domestic market as that would be a suicide mission given the strength of local players like Alipay and WeChat, but we can connect Chinese consumers with the euro zone and dollar markets," Allaire said. Circle's China unit operates as a separate locally incorporated company and has not yet launched a product, pending a deal with a local banking partner a...

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Fintech Startup Circle Introduces Crypto US Dollar

Payments App Circle Raises $60 million, Open Office in China