Circle is developing rapidly and has joined the ranks of Blockchain unicorns.

A well-known digital currency company, Circle, recently completed a $110 million Series E funding round, reaching a valuation of nearly $3 billion, and plans to launch a stablecoin pegged to the US dollar through its CENTRE project. The company is experiencing strong growth, having secured investments from several prominent institutions and made significant progress in obtaining digital currency licenses.

During the Consensus Conference in New York in 2018, Circle's CMO Marieke Flament gave an exclusive interview. She shared insights on the cryptocurrency market and revealed the company's development strategy in Asia.

Optimistic about Asia becoming a new growth pole for digital currency

This round of financing was led by the world's largest mining machine manufacturer, with participation from several well-known investment institutions. Circle CEO Jeremy Allaire stated that this round of financing helps the company position itself as a true cryptocurrency service enterprise, rather than just a trading platform or payment service startup.

Regarding the relationship with traditional payment tools, Marieke believes they should be seen as partners rather than competitors. She explained: "We hope to collaborate and integrate with other payment tools in the future, such as through APIs with social applications. We are also working to leverage social media to attract more customers."

Speaking about the Chinese market, Marieke stated: "Although the regulatory environment in China has not yet fully opened up, this does not mean that the government does not value Blockchain technology. On the contrary, the Chinese government can clearly determine what should and should not be done." She also mentioned that cooperation with Chinese investors is relatively smooth, which helps the company's development in China.

Circle plans to use the new round of financing for team expansion, currently having over 200 employees worldwide, with offices in several countries and regions. The company plans to increase its workforce to 400 this year, focusing on personnel growth in the Asian market.

The company has positioned Hong Kong as the operational base for its business in Asia and launched Circle Trade as the first Asian business, providing large-scale digital currency trading services for institutions. Marieke explained: "We chose Circle Trade as the first product in Asia because the demand for digital currency liquidity is continually growing. At the same time, we do not want to compete directly with major exchanges and payment institutions, which is a best strategic move."

She believes that Asia is a vibrant market, and the development speed of Blockchain projects is unparalleled globally, while Asians have a deeper understanding of Blockchain technology.

Blockchain Business Path: Compliance with Regulations

In terms of government licensing for digital currencies, Circle is a global leader. The company became the first to obtain a digital currency license from the New York State Department of Financial Services in 2015, and in 2016, it became the first to obtain an electronic money license from the UK Financial Conduct Authority.

Marieke emphasized: "In the field of Blockchain, the key to sustainable development lies in compliance with regulations." She stated that Circle has an internal legal compliance team that works closely with regulatory agencies to actively carry out anti-fraud and KYC efforts to ensure business compliance and legality.

Facing regulatory challenges, Marieke believes that the biggest issue between blockchain projects and regulatory agencies is the lack of mutual understanding, making education and dialogue particularly important. She mentioned: "The UK's fintech regulatory sandbox is a great solution." Circle is also actively involved in government communication, such as becoming a member of the International Monetary Fund's blockchain finance and cryptocurrency advisory group.

Regarding the potential entry of traditional financial institutions into the cryptocurrency trading space, Marieke stated that having more legitimate participants in the market is a good thing.

Earlier this year, Circle acquired a globally renowned digital currency exchange for $400 million. Marieke stated: "Balancing between self-growth and acquisition expansion is always challenging. From Circle's perspective, we do not make acquisition decisions lightly. The most important considerations are the fit in culture, strategy, and talent support, and this acquisition meets all our requirements very well."