- July 9, 2021
- Posted by: Stratford Team
- Category: Business
Most of the conversation about Circle revolves around USD coin (USDC), the stablecoin it created in collaboration with Coinbase.
But according to an investor presentation released with Thursday’s announcement that Circle would go public using a special purpose acquisition company (SPAC), the company has three lines of business, all generating growing revenue. Of those, USDC is only the second-biggest contributor to the top line.
Circle has been a mainstay of the more corporate and institutionally focused side of the cryptocurrency industry. Started by Jeremy Allaire and Sean Neville as a peer-to-peer payments company that once had a strong bitcoin orientation, it has evolved into an infrastructure company supporting much of the blockchain industry, and that infrastructure work appears to be its strongest area for revenue growth.
The Boston-based firm generates income in three ways: from transaction fees on USDC and interest earned on its reserves;…
