Circle Raises $50 Million With Goldman Sachs Support

[tokeweed]

Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners.

And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.

IDG Capital Partners likewise brings a strategic capability to Circle as we bring our products and services to China. We believe in a hybrid digital economy in which value moves freely around the world and converts into other currencies -- including both crypto and fiat currencies -- seamlessly, safely, and instantly. People will transact and trade both locally and across the globe more freely and more securely than has ever before been possible. And that means growing our platform to include important economies and currencies such as US Dollars and Chinese Yuan.

We’re also introducing new US dollar features that enable customers to hold, send, and receive dollars. Customers with dollar accounts gain all of the benefits of digital currency -- instant, secure and free payments to anyone in the world -- without holding or explicitly converting dollars into bitcoins. Dollar account balances held by Circle customers are FDIC-insured.

Circle’s robust support for Bitcoin also gets even better. If customers choose to hold dollars instead of bitcoin balances, they can still pay any person or merchant who accepts payment in bitcoin, without ever holding bitcoin themselves. Circle will handle instant conversion from dollars into bitcoin at the time of the payment. The reverse is also true: customers can accept bitcoin and expect Circle to convert it instantly into dollars in their Circle accounts. This gives customers the benefits of bitcoin payments without the risk of price volatility.

http://blog.circle.com/2015/04/30/new-circle-investors-new-us-dollar-account-features-china-horizons/

[tokeweed]

I loooove their website https://www.circle.com/en

Is this bootstrap + angular?

[coinableS]

Will this help with mainstream adoption? Allow people to use bitcoin and accept bitcoin without having to own or hold bitcoin.

Coinbase to the UK. Circle to China. Nasdaq Stockholm to trade a Bitcoin ETN. Things are getting serious.

[tokeweed]

Will this help with mainstream adoption? Allow people to use bitcoin and accept bitcoin without having to own or hold bitcoin.

Coinbase to the UK. Circle to China. Nasdaq Stockholm to trade a Bitcoin ETN. Things are getting serious.

It's not even about that.  It's about having a choice.  It's good that there's a service that allows you to choose.  Bitcoin is known for its volatility, so Circle gives their customers a choice to avoid that.

[coinableS]

Will this help with mainstream adoption? Allow people to use bitcoin and accept bitcoin without having to own or hold bitcoin.

Coinbase to the UK. Circle to China. Nasdaq Stockholm to trade a Bitcoin ETN. Things are getting serious.

It's not even about that.  It's about having a choice.  It's good that there's a service that allows you to choose.  Bitcoin is known for its volatility, so Circle gives their customers a choice to avoid that.

If the features only purpose was to provide a choice between BTC and USD then what's the difference than just using an exchange, except that it's FDIC insured? I think that Circle is trying to pull in more users by letting them spend bitcoin and receive it without having to hold bitcoin due to it's volatility.

[tokeweed]

Will this help with mainstream adoption? Allow people to use bitcoin and accept bitcoin without having to own or hold bitcoin.

Coinbase to the UK. Circle to China. Nasdaq Stockholm to trade a Bitcoin ETN. Things are getting serious.

It's not even about that.  It's about having a choice.  It's good that there's a service that allows you to choose.  Bitcoin is known for its volatility, so Circle gives their customers a choice to avoid that.

If the features only purpose was to provide a choice between BTC and USD then what's the difference than just using an exchange, except that it's FDIC insured? I think that Circle is trying to pull in more users by letting them spend bitcoin and receive it without having to hold bitcoin due to it's volatility.

Again, choice.  Anyone can choose to hold BTC if they want.  And to speculate, it won't stop there.  Yuan could be the next available currency then hopefully more.

[coinableS]

Again, choice.  Anyone can choose to hold BTC if they want.  And to speculate, it won't stop there.  Yuan could be the next available currency then hopefully more.

I must be missing something, I don't see why having the ability to hold USD, BTC and CNY in one place is a big deal when it's do-able already with exchanges. I'm not trying to irritate you, just trying to understand your point of view on this. So then basically they will be a US based, BTC-e with smartphone apps and a better UI?

[tokeweed]

Again, choice.  Anyone can choose to hold BTC if they want.  And to speculate, it won't stop there.  Yuan could be the next available currency then hopefully more.

I must be missing something, I don't see why having the ability to hold USD, BTC and CNY in one place is a big deal when it's do-able already with exchanges. I'm not trying to irritate you, just trying to understand your point of view on this. So then basically they will be a US based, BTC-e with smartphone apps and a better UI?

Basically, but your account is insured.  That's the main thing I'm excited about because other exchanges and services will follow too.  It's like Circle is setting the bar up for everyone else to become better.

Edit: And Circle is taking being a Bitcoin financial service more seriously.  Seeing that Goldman Sachs lead a 50m USD funding round kinda validates that.  It's not like the other exchanges where they get hacked and some of them close.  The latest with Bitstamp...  The industry is becoming somewhat of a joke because of it.  Services like Circle could change that.

[NUFCrichard]

Again, choice.  Anyone can choose to hold BTC if they want.  And to speculate, it won't stop there.  Yuan could be the next available currency then hopefully more.

I must be missing something, I don't see why having the ability to hold USD, BTC and CNY in one place is a big deal when it's do-able already with exchanges. I'm not trying to irritate you, just trying to understand your point of view on this. So then basically they will be a US based, BTC-e with smartphone apps and a better UI?

Basically, but your account is insured.  That's the main thing I'm excited about because other exchanges and services will follow too.  It's like Circle is setting the bar up for everyone else to become better.

Edit: And Circle is taking being a Bitcoin financial service more seriously.  Seeing that Goldman Sachs lead a 50m USD funding round kinda validates that.  It's not like the other exchanges where they get hacked and some of them close.  The latest with Bitstamp...  The industry is becoming somewhat of a joke because of it.  Services like Circle could change that.

If you think keeping large amountd of Bitcoin or fiat somewhere like Bitstamp is a good idea, then I would suggest you think again.
If Circle can insure your account, then you can really use them as a trading account, and do lots of your trades off blockchain, so you won't have to wait for the confirmations during a flash crash or buying/selling opportunity.

That is important for traders, but it is also important for piece of mind.  I don't want to feel rushed into trading or moving my money out of exchange accounts as soon as possible due to a chance of being hacked.  Circle sounds great to me, the future.

[Miracal]

I don't think circle gonna help increase the bitcoin adoption. Just one more payment processor company is showing up. It apparently will help merchants to dump bitcoin payment.

[tokeweed]

I don't think circle gonna help increase the bitcoin adoption. Just one more payment processor company is showing up. It apparently will help merchants to dump bitcoin payment.

You'd rather Circle not operate?

[WhatTheGox]

I don't think circle gonna help increase the bitcoin adoption. Just one more payment processor company is showing up. It apparently will help merchants to dump bitcoin payment.

Circle CEO is a big believer in bitcoin and also that the currency and blockchain tech go hand in hand, this is good for everyone.

[Amph]

so this is an upgrade to circle that add insurance against volatility? i'm understanding it right?

[Miracal]

I don't think circle gonna help increase the bitcoin adoption. Just one more payment processor company is showing up. It apparently will help merchants to dump bitcoin payment.

You'd rather Circle not operate?

I am not against Circle. Just from an investor point of view, there is noting big news arising yet, which will push the growth of bitcoin adoption and stabilize the price.

[SpanishSoldier]

I loooove their website https://www.circle.com/en

Is this bootstrap + angular?

Bootstrap sure. But is it Angular ?

They have got some talented UI guy for sure. Way better than CoinBase.

[Paashaas]

Great news, things are moving fast.

a nice 50 million extra added, i think i'm gonna buy moar BTC

[galbros]

The introduction of Goldman Sachs, the biggest US investment bank, is a big deal.  I think this is very good news for bitcoin.

[ensurance982]

Will this help with mainstream adoption? Allow people to use bitcoin and accept bitcoin without having to own or hold bitcoin.

Coinbase to the UK. Circle to China. Nasdaq Stockholm to trade a Bitcoin ETN. Things are getting serious.

Its' quite interesting to see that Bitcoin's future may be in the hands of companies holding your coins for you, after all! We all expected Bitcoin to be something you only hold yourself and "push" transactions, unlike the way banks work. It seems we've gone full circle - pun intended

[coinableS]

Are there any people who actually use Circle
I rarely see any thread / news about Circle, is it because Circle still a new company ?

I hope this time they really can increase bitcoin adaption

I use circle all the time. They are my goto for buying BTC since mid last year since there is no 4 day wait like coinbase. I don't store any BTC there though. I transfer to my own address(es) right after purchase.

[tokeweed]

Are there any people who actually use Circle
I rarely see any thread / news about Circle, is it because Circle still a new company ?

I hope this time they really can increase bitcoin adaption

I use circle all the time. They are my goto for buying BTC since mid last year since there is no 4 day wait like coinbase. I don't store any BTC there though. I transfer to my own address(es) right after purchase.

Does Circle disallow transfers to gambling sites?