Circle provides a financial technology solution allowing users to send and receive funds globally. It offers crypto treasury management solutions for businesses to manage digital assets. It serves asset managers, financial technology companies, and financial institutions. The company was founded in 2013 and is based in Boston, Massachusetts.
ESPs containing Circle
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The cross-border payments infrastructure & enablement market enables businesses to send and accept global payments on their own websites and payment platforms. The companies in this space generally offer APIs that allow businesses to accept and process payments across currencies and platforms (such as mobile), make payouts, verify user identities, issue credit cards, and more. Some companies also …
Circle's Products & Differentiators
The Circle Account is a full stack solution that replaces a fractured system for business banking. Securely custody funds, send and receive payments globally and streamline treasury operations all connected through USD Coin (USDC) and integrated with a suite of APIs.
Research containing Circle
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Circle in 15 CB Insights research briefs, most recently on May 24, 2023.
Expert Collections containing Circle
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Circle is included in 6 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
Companies in this collection build, apply, and analyze blockchain and cryptocurrency technologies for business or consumer use cases. Categories include blockchain infrastructure and development, crypto & DeFi, Web3, NFTs, gaming, supply chain, enterprise blockchain, and more.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Tech IPO Pipeline
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Silicon Valley Bank's Fintech Network
We mapped out some of SVB's biggest clients, partnerships, and sectors that it serves using CB Insights’ business relationship data from SVB’s profile to uncover just how important it is to the fintech universe. The list is not exhaustive.
Circle has filed 31 patents.
Latest Circle News
Dec 7, 2023
Circle launches open-source protocols to address on-chain theft of illicit funds Circle, a leading global financial technology firm, has announced the launch of two open-source protocols to address the challenges of on-chain theft and the risks of illicit finance in the crypto ecosystem. The protocols, called Freeze and Blacklist, aim to provide a standardized and transparent way for crypto platforms and users to freeze and unfreeze stolen or compromised assets, as well as to identify and block transactions involving blacklisted addresses. Freeze is a protocol that allows crypto platforms and users to freeze or unfreeze their own assets in case of theft, loss, or other emergencies. Freeze works by embedding a freeze function into the smart contract of an asset, which can be triggered by the owner of the asset or by a designated freeze agent. The freeze function can also be revoked by the owner or the agent, restoring the normal functionality of the asset. Freeze is designed to be compatible with any ERC-20 token, as well as other smart contract platforms that support similar functionality. Tekedia Mini-MBA (Feb 5 – May 4, 2024) registration has started; beat early birds for discounts here. Blacklist is a protocol that allows crypto platforms and users to identify and block transactions involving addresses that are associated with illicit finance, such as money laundering, terrorism financing, or sanctions evasion. Blacklist works by creating a public registry of blacklisted addresses, which can be updated by a network of trusted blacklist agents. The registry can be queried by any crypto platform or user to check the status of an address before sending or receiving funds. Blacklist is designed to be compatible with any blockchain network that supports address-based transactions. Circle; Barrier to Entry: Theft and Security Annual losses due to token theft and accidents are in the billions of dollars. In 2021, $3.3 billion was stolen in crypto hacks, and that number jumped to $3.8 billion in 2022. The immutability, or irreversibility of blockchain transactions is a fundamental characteristic that offers key benefits. However, it also presents challenges, such as rendering thefts and illicit activities permanent and irretrievable by default. This reality makes it hard for many retail users, consumers, and businesses to adopt blockchain systems. Recoverable Wrapped Tokens One way to protect assets from theft is to strengthen the security of asset keys and to improve the quality of Web3 code. A complementary approach, explored in depth last year by Stanford researchers including Dan Boneh, is to extend the ERC-20 interface to support asset recovery with the “ERC-20R.” In the same vein, the Circle Research team explored recoverable wrapper tokens, building upon the aforementioned Stanford research paper. Our effort aims to construct a configurable and programmable recovery mechanism to benefit both developers and users of ERC-20 tokens. This proposed mechanism revolves around recoverable wrapper tokens. Users can wrap their ERC-20 asset by locking them in the recoverable wrapper token contract in order to receive an equal number of wrapper tokens in return. Wrapping the tokens protects users from thefts, and still maintains most of the utility found in the token’s base form. One core difference, however, is that recoverable wrapper tokens can be recovered back to the sender within a certain time window post-transaction (say, 24 hours). Consequently, each user will have two distinct balances of the token: a settled balance (non-recoverable) and an unsettled balance (recoverable). Only settled tokens may be unwrapped back into their base form. Building beyond the thesis put forth in the ERC20R paper, we present multiple configuration sets, or ways to implement and design a recoverable wrapper token, each with their own use cases and attributes. For instance, one version is an arbitrated wrapper appropriate for a targeted, designated ecosystem with a trusted governance. Another version offers more of a cancellable send button, where transactions simply take a longer, custom period of time to settle than the chain’s finality. Different configuration sets can still be interoperable with each other, as long as they conform to a shared interface. We provide the IERC20R contract as this interface. As an example, we developed the arbitrated wrapper version for protecting USDC or any token (completed audit report coming soon). This will soon be available for Circle’s recently unveiled Smart Contract Platform, so developers have a template to experiment with and provide token recoverability features to their users. Circle believes that these protocols can enhance the security and compliance of the crypto ecosystem, while preserving the core principles of decentralization, transparency, and user sovereignty. Circle invites other crypto platforms and users to join them in adopting and contributing to these protocols, which are available as open-source projects on GitHub. Share this:
Circle Frequently Asked Questions (FAQ)
When was Circle founded?
Circle was founded in 2013.
Where is Circle's headquarters?
Circle's headquarters is located at 99 High Street, Boston.
What is Circle's latest funding round?
Circle's latest funding round is Corporate Minority.
How much did Circle raise?
Circle raised a total of $1.199B.
Who are the investors of Circle?
Investors of Circle include Coinbase, Fidelity Investments, Marshall Wace Asset Management, BlackRock, Fin Capital and 34 more.
Who are Circle's competitors?
Competitors of Circle include Tassat, BitGo, Abra, Ledger, Ripple and 7 more.
What products does Circle offer?
Circle's products include Circle Account and 3 more.
Who are Circle's customers?
Customers of Circle include FTX and CMS.
Compare Circle to Competitors
ZEPZ focuses on providing digital payment solutions. The company offers services enabling users to send money securely with options for bank deposit, cash collection, mobile airtime top-up, and mobile money. ZEPZ primarily serves the global payments industry. Zepz was formerly known as WorldRemit. It was founded in 2010 and is based in London, United Kingdom.
BitGo focuses on providing secure and scalable solutions for the digital asset economy. The company offers a range of services including regulated custody, financial services, and core infrastructure. These services allow clients to safely hold their digital assets and then deploy them in various ways, such as through trading, borrowing, lending, and accessing decentralized finance (DeFi). BitGo primarily serves investors and builders in the digital asset economy, including exchanges, retail platforms, crypto-native firms, and institutional investors. It was founded in 2013 and is based in Palo Alto, California.
Lianlian Pay, operated by Lianlian Group, is a mobile and micropayment service provider. The company operates a network of agents in China where consumers can convert cash into mobile-phone minutes. It allows customers to purchase airline tickets, video gaming credits, and utility bills with its network. It was founded in 2003 and is based in Hangzhou, China.
Paga operates as a mobile money company that is building an ecosystem to enable people to digitally send and receive money, and creates simple financial access. It was founded in 2009 and is based in Lagos, Nigeria.
Xapo Bank operates as a digital private banking platform. It provides banking services such as savings, wealth management, bitcoin payments, and many more. It was founded in 2014 and is based in Gibraltar, United Kingdom.
MobiKwik provides a mobile, phone-based payment system and digital wallet. The platform allows users to make instant bill payments and recharges. The company was founded in 2009 and is based in Gurugram, India.