Circle Crypto Platform Becomes Owner Of SeedInvest
The Circle crypto platform, which developed the USDC stablecoin, became the owner of the SeedInvest crowdfunding platform, completing the lengthy procedure of its acquisition, as follows from the post on the Circle blog.
The parties do not make public the details of the purchase and state that it was approved by the Financial Industry Regulatory Authority (FINRA). With this acquisition, Circle takes another step towards creating a more open and accessible financial system throughout the world.
SeedInvest currently occupies a leading position in the cryptocurrency and blockchain market. The crowdfunding platform helps startups to attract investors' funds through the Internet. Startup companies receive new opportunities for the formation of their capital, and investors can invest in startups directly, according to the Circle's post.
Circle announced its plans to acquire SeedInvest in the fall of 2018 and began the purchase procedure. It is assumed that the company will help startups in attracting investments on SeedInvest through the tokensale. The crowdfunding company will continue to work as usually with the support of Circle specialists.
SeedInvest started its work in 2012 and managed to attract $11 million from investors over all these years, and startups raised a total of $120 million with the help of the company.
As previously reported, Circle is supposedly going to attract $250 million in the near future.