Goldman Sachs-backed cryptocurrency finance firm Circle announced that it closed the acquisition of SeedInvest, a crowdfunding platform and registered operator of a broker-dealer. The news was reported via a post on Coinbase’s official blog published March 4.
Cointelegraph first reported about the ongoing acquisition in October last year, noting that the deal will enable Circle to expand SeedInvest’s offerings to support cryptocurrencies, including fiat stablecoins and issuing and offering tokenized securities. At the time, the acquisition was put on hold until the United States Financial Industry Regulatory Authority (FINRA) approved the deal.
According to the announcement, the acquisition concluded after Circle obtained regulatory approval by the FINRA, closing the acquisition. The acquired company will reportedly continue to operate normally and will allow Circle to further explore asset tokenization.
According to stats reported on its website, SeedInvest has successfully funded over 220 companies and counts over 260,000 users; the total investment made via SeedInvest reportedly amounts to over $115 million.
Meanwhile, according to an unconfirmed report, Circle itself is also looking to raise $250 million of funding in a combination of equity and debt.
A recent acquisition by cryptocurrency exchange Coinbase spurred controversy after news broke that the acquired digital intelligence firm Neutrino was associated with Hacking Team, which allegedly sold tracking software to authoritarian regimes.
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