• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Amazon and Walmart Eye Launch of Their Own Crypto, Details
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Amazon and Walmart Eye Launch of Their Own Crypto, Details
USD-pegged Stablecoin

USD-pegged Stablecoin to be Introduced by Goldman Sachs-backed Circle

Adam James
by Adam James
7 years ago
·
Posted in News, Altcoin News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Circle, a startup payments company backed by Goldman Sachs, is set to launch a cryptocurrency with a value pegged to the U.S. dollar — similar to Tether (USDT) — after announcing a $110 million investment round dominated by cryptocurrency mining giant Bitmain. 


A ‘Compliant Alternative’ to Tether

Goldman Sach-backed fintech startup Circle has announced its plans to launch a cryptocurrency pegged to the U.S. dollar, following an incredibly lucrative investment round dominated by cryptocurrency mining monopoly Bitmain.

The new dollar-pegged cryptocurrency sounds a lot like Tether (USDT), an occasionally controversial cryptocurrency token which is purportedly backed by one dollar for each token issued. Circle CEO Jeremy Allaire explained:

It unlocks an incredible amount of power for the dollar. It’s basically a dollar that operates on blockchain.

“Basically” is the keyword, however, since the dollar is the official currency of the United States and Circle’s new open-source stablecoin presumably isn’t.

A 'Compliant Alternative' to Tether

Nevertheless, the new USD-pegged coin is meant to function like USDT by helping remove volatility from the notoriously volatile cryptocurrency market.

Unlike Tether, however, Circle customers must hold $1 for every USD-pegged coin, according to CNBC — likely in an effort to ensure regulatory compliance and attract institutional investors. Explained Allaire:

When I look at the convergence of traditional finance and the crypto space, it’s begging for that. There are a number of banks who are excited about it and will support it.

Goldman Invests In Circle

Allaire also added that Circle is planning on launching similar fiat-pegged coins for the euro and pound. However, they likely won’t be pursuing Asian currencies anytime soon.

Circle’s USD-pegged coin will reportedly run on the Ethereum blockchain but isn’t permanently married to the second-largest cryptocurrency by market capitalization. Noted Allaire:

Ethereum is the best bet but it’s not necessarily the end game. For now it’s specifically on Ethereum.

Backed By Bitmain

Circle also announced the results of its latest fundraising campaign. It now claims that the latest $110 million investment round has increased the company’s valuation to almost $3 billion.

Cryptocurrency mining giant Bitmain forked over most of the cash, though Breyer Capital, Tusk Ventures, IDG Capital, Pantera, and Blockchain Capital also participated.

What do you think about Circle’s USD-pegged stablecoin? Do you feel like it’s little more than another Tether, or do you think it’s regulatory compliance will put USDT to sleep? Do you think Circle should be valued at $3 billion? Be sure to let us know your thoughts in the comments below!


Images courtesy of Fortune, Tether, Pixabay

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Adam James

Adam James

Follow

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Full Profile

Related Posts

Ethereum

Ethereum Whale Snaps Up $127 Million In ETH Amid Market Crash

1 day ago
Bitcoin

Analyst Drops Bearish Bombshell: Bitcoin To $93,500, Ethereum To $2,100, XRP To $1.6

1 day ago
Ethereum

Ethereum Wins Big In ETF Race As Institutional Cash Pours In

1 day ago
TRON (TRX) Sharpe Ratio Signals ‘Far from Overheating’ as USDT Activity Hits Record High

TRON (TRX) Sharpe Ratio Signals ‘Far from Overheating’ as USDT Activity Hits Record High

3 days ago
Stablecoins

Fortune 500 Executives Are Eyeing Stablecoins Like Never Before—Study

4 days ago
하이퍼

비트코인 하이퍼 프리세일 100만달러 돌파… 대형투자자 13.9만달러 투자에 첫 BTC L2 열기 고조

5 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • DOGE, XRP, Pi price prediction for June: Cloud mining may...

    3 hours ago
  • XRP and DOGE holders quietly turn to APT Miner, earning...

    16 hours ago
  • 2025’s Best Performing CloudMiner, Holding a Secret...

    20 hours ago
  • XRP and Doge Investors Quietly Move to APT Miner: Earning...

    20 hours ago
  • ETHRANSACTION Mining Platform: “Just tap your phone...

    21 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.