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Blockchain payments firm Circle has announced that it has raised $60 million of new capital from a group of strategic Chinese investors. While its service is still not available in China, the firm is now launching Circle China, a Beijing-based venture focused on making them a major player in the Chinese payments market.
The financing was led by IDG Capital Partners, Breyer Capital and General Catalyst Partners, and included on a syndicate of powerful investors in China, such as Baidu, CICC ALPHA, China Everbright Limited, Wanxiang and CreditEase. Two prominent individuals also invested in the company: Sam Palmisano, former Chairman and CEO of IBM, and Glenn Hutchins, the co-founder of SilverLake.
“Blockchain technology will ... (read more)