Goldman Sachs-backed start-up Circle introducing a crypto version of the US dollar

Fintech company Circle announced a new cryptocurrency pegged to the dollar and a $110 million investment round led by profitable crypto-mining company Bitmain, which brings Circle’s value near $3 billion. Circle is one of the most well-funded blockchain start-ups, with investors including Goldman Sachs Group and Baidu. The fintech company operates its peer-to-peer payment network using blockchain. Circle’s new USD Coin is meant to solve a key problem in digital currencies’ use case: Volatility.

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