The blockchain payment platform developer’s valuation through its imminent reverse takeover has doubled, buoyed by the popularity of its stablecoin.

Circle, the US-based blockchain payment platform developer that counts corporates FTX, Baidu, Bitmain, CreditEase and Wanxiang as investors, revised the terms of its reverse merger yesterday to double its valuation to $9bn.

The company had agreed in July 2021 to merge with special purpose acquisition company Concord Acquisition Corp at a $4.5bn valuation and take its listing on the New York Stock Exchange.

Founded in 2013, Circle provides a payment processing service which uses a regulated dollar digital currency…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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