Circle (company)
Circle Internet Financial, LLC (often referred to as Circle) is a global financial technology firm that provides infrastructure for digital currency payments. Founded in 2013 by Jeremy Allaire and Sean Neville, Circle is known for its role in the development and popularization of stablecoins, particularly USD Coin (USDC), which it co-founded as a founding member of the Centre Consortium (now managed solely by Coinbase).
Circle's core business focuses on enabling businesses and developers to leverage blockchain technology for financial services. Its offerings include:
- USD Coin (USDC): A fully reserved, dollar-backed stablecoin designed to provide price stability and accessibility to digital assets. USDC aims to be a transparent and regulated digital dollar, facilitating fast and low-cost transactions.
- Programmable Wallets: Infrastructure and tools for developers to build applications that integrate USDC payments, allowing for programmatic access to digital assets.
- Payments APIs: Circle provides application programming interfaces (APIs) that enable businesses to integrate digital currency payments into their platforms and workflows.
- Treasury Management: Solutions for managing digital asset holdings, including secure custody and access to yield-generating opportunities.
Circle has been involved in various regulatory discussions surrounding digital assets and has emphasized the importance of compliance and transparency in the cryptocurrency industry. The company has actively sought regulatory licenses and approvals in multiple jurisdictions to operate its digital currency services within a compliant framework.
Over time, Circle has also acquired companies like Poloniex, a cryptocurrency exchange, which it later sold. The company's mission is to bridge the gap between traditional finance and the emerging digital economy by providing secure, accessible, and reliable digital currency infrastructure.