Circle, a Boston, MA-based digital currency company, raised $50m in funding.
The round was co-led by Goldman Sachs and IDG Capital Partners, with participation from existing investors Breyer Capital, General Catalyst Partners, Accel Partners, Oak Investment Partners, Fenway Summer, Digital Currency Group, Pantera Capital, and strategic individuals.
The company intends to use the funds to continue building the platform and launch in the Chinese market.
Founded in 2013 by Jeremy Allaire and Sean Neville, Circle gives customers the ability to hold, send, and receive US dollars as well as bitcoin — securely, and with no fees. The company is now working on introducing new US dollar features that enable customers to hold, send, and receive dollars without holding or converting dollars into bitcoins. Dollar account balances held by Circle customers are FDIC-insured.