Overview of Transaction

• On July 30, 2020, Circle announced it has raised $25 million in financing from Digital Currency Group as part of a strategic partnership with Genesis aimed at enhancing Circle’s new suite of products for businesses and developers with USDC-based yield and lending services
• Digital Currency Group is the parent company of Genesis
• Circle is a global FinTech firm that enables businesses of all sizes to harness the power of digital currencies and blockchains for payments, commerce and financial applications
• Circle is the pioneer of USDC, the fastest growing, regulated digital currency backed by the US Dollar
• In Q2 2020, Circle launched its new suite of Platform Services, providing businesses with a comprehensive suite of products and APIs for integrating and implementing stablecoins for payments, global commerce, and financial applications

Significance of Transaction

• Through the partnership, Circle and Genesis will offer market solutions for businesses and developers who are seeking to generate strong positive yield from their own or customer USDC holdings
• The partnership will also provide access to USDC-based credit for businesses and merchants that are using USDC for treasury operations and business payments
• Circle and Genesis have established a leadership position providing core infrastructure supporting a new global financial system

FT Partners' Role

• FT Partners served as exclusive financial advisor to Circle
• This transaction highlights FT Partners’ deep domain expertise in the digital asset and and blockchain sectors, as well as its successful track record generating highly favorable outcomes for high-growth FinTech companies globally