Circle has raised another $110 million — at a nearly $3 billion valuation — in one of the largest rounds yet for a crypto startup

Circle launched four years ago as a sort of “bitcoin for dummies” wallet and payments service. Since then, it has ridden the highs and lows of the bitcoin and cryptocurrency markets, expanding internationally and acquiring its own crypto exchange, Poloniex, earlier this year for around $400 million.

Now it is launching a new product aimed at addressing one of the biggest issues of the crypto world: Its instability. The company is also launching a new “USD Coin” tied to the value of the U.S. dollar.

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Circle has raised another $110 million — at a nearly $3 billion valuation — in one of the largest rounds yet for a crypto startup