Circle Internet Financial, a Boston, MA-based digital currency company, raised $9m in Series A funding.
Backers included Jim Breyer, Accel Partners and General Catalyst Partners. In conjunction with the funding, Jim Breyer will join Circle’s Board of Directors as will David Orfao of General Catalyst Partners.
Founded by CEO Jeremy Allaire, Circle Internet Financial is developing online services for both consumers and merchants seeking to adopt and use Bitcoin and digital currency for payments and money transfers.
For consumers, the company will provide a service to exchange, store, send and receive digital currency. To this end, it is building an architecture that aims to increase consumer privacy protection and provide tools for making payments and sending and receiving digital currency.
For businesses and charities, Circle intends to provide a suite of tools and services that allow them to accept payments in digital currency with no transaction fees, which will integrate into both online and in-person payments.
The company is regulated by the Financial Crimes Enforcement Network, a bureau of the U.S. Department of Treasury, as a money transmitter and is seeking appropriate state licenses.
Circle, which recently hired John Beccia as General Counsel and Chief Compliance Officer, also has international operations in Dublin, Ireland.