Welcome to Circle, the groundbreaking company that is shaping the future of digital finance. Founded in October 2013 by visionaries Jeremy Allaire and Sean Neville, Circle began as a peer-to-peer payments technology company and has since evolved into something extraordinary. Today, we proudly manage USDC, a revolutionary stablecoin pegged to the value of the U.S. dollar.
At Circle, we are passionate about providing a digital currency that remains steady, regardless of economic fluctuations. With USDC, the second-largest stablecoin globally, we have created a groundbreaking solution designed to hold a stable price of $1. Our commitment to stability is reinforced by holding the majority of USDC's collateral in short-term U.S. government securities, ensuring a solid foundation for each and every USDC token in circulation.
Our relentless pursuit of innovation has garnered the attention of venture capitalists, with over $135 million in funding secured from prestigious investors. This includes a significant investment of $50 million led by Goldman Sachs, which solidified Bitcoin's reputation as a technology that serious financial firms can embrace. In 2018, we raised a staggering $110 million in venture capital to create USD Coin (USDC), an Ethereum-based cryptocurrency that is backed by the mighty U.S. dollar.
As we continue to push the boundaries of digital finance, Circle has attracted investments from renowned institutions such as BlackRock, Fidelity Investments, Marshall Wace LLP, and Fin Capital. This unwavering support reflects the industry's recognition of our commitment to revolutionizing financial transactions.
With a global reach, Circle enables customers from around the world to fund their accounts in various currencies, including USD, EUR, and GBP. Our partnerships with regulatory authorities have paved the way for expanded services, including an electronic money license granted by Britain's Financial Conduct Authority. This has allowed us to extend our offerings to the United Kingdom, building a strong relationship with UK bank Barclays.
But our ambitions don't stop there. We see boundless opportunities in China, where we aim to empower Chinese consumers who want to share value globally with friends across the world. Circle is continuously exploring new frontiers to enable seamless and secure digital transactions that transcend borders.
Our journey has been marked by exciting milestones. While our Circle app no longer supports bitcoin exchanges, we continue to facilitate effortless money transfers and have introduced innovative services such as group payments and cash transfers to U.S. accounts.
Today, Circle stands as a beacon of innovation, shaping the future of finance through USDC and our unwavering commitment to stability, security, and accessibility. Join us in the Circle revolution and embrace the limitless possibilities of digital finance.