Circle Announces Venture Fund To Support Compelling, Early-Stage Blockchain Projects

Table of Contents

• Details Of Circle Ventures 
• Search For Entrepreneurs And Developers 
• Circle Plans To Become A Commercial Bank 

USDC stablecoin issuer and global FinTech startup Circle has announced the launch of Circle Ventures, a new project that will invest in early-stage blockchain projects and companies. 

The launch was announced in a release on Tuesday, which elaborated on the project, stating that the companies and projects that Circle would be looking at would be those whose goal matches with Circle’s vision of “raising global prosperity through the frictionless exchange of financial value.” 

Details Of Circle Ventures 

Circle is based in Boston and provides financial infrastructure and internet-based payments for businesses globally. The company is also the issuer of the USDC stablecoin and the startup funding platform, SeedInvest. 

Companies included in Circle Ventures Investment portfolio will have access to SeedInvest’s network of investors, which comprises over 500,000 investors. They will also gain exposure to experience in compliant internet capital formation. 

CFO of Circle, Jeremy Fox-Geen stated, 

“Since our inception, Circle has envisioned how to help scale the greater blockchain and crypto ecosystem. Circle Ventures is another way to contribute, and we’re excited to support our industry’s innovators and entrepreneurs and identify compelling early-stage companies, technologies, projects, and protocols to help realize our mission.”

Search For Entrepreneurs And Developers 

Circle revealed that Circle Ventures had already deployed its initial capital and was now on the lookout for innovators, entrepreneurs, and developers within the blockchain community. Circle Ventures would then find investment opportunities in the projects that they are working on. 

During an interview, Circle’s Dante Disparte batted for stablecoins and said that they could alleviate a certain degree of hardships faced by communities that are financially underserved, allowing them to access payment mechanisms and banking services. 

Disparte is the head of global policy and the chief strategy officer at Circle and said cryptocurrencies could help millions who are cut off from banking services and the financial system due to a lack of access to adequate banking infrastructure. According to him, digital currencies present an entirely new financial model for individuals around the world, especially to unbanked customers, who are increasingly avoiding outdated banking infrastructure. 

Circle Plans To Become A Commercial Bank 

Along with its plans to go public, Circle also made another major announcement, revealing its intention to become a full-fledged national commercial bank. Circle had completed its S-4 filing with the SEC on the 6th of August and made the official announcement on the 9th. If approved, the proposed bank would operate directly under the supervision of The Federal Reserve, The Office of The Comptroller of the Currency, The US Treasury, and the Federal Deposit Insurance Corporation. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.