What is circle's relationship with Blackrock?

It was also revealed that Blackrock would be used by Circle for “managing significant assets for the reserves that back USDC.” Six months later, Circle disclosed on Nov. 3, 2022, that the company would be deepening its relationship with Blackrock, and Circle has started to move USDC reserves into a Blackrock-managed fund.

Is Circle Internet Financial 'deepening' its partnership with Blackrock?

According to the crypto firm Circle Internet Financial, the company is “deepening” its partnership with the world’s largest asset manager Blackrock. Circle disclosed that it has started to transfer USDC reserves into a Blackrock-managed fund that’s registered with the U.S. Securities and Exchange Commission (SEC).

Is circle transferring USDC reserves to a BlackRock-managed fund?

Circle disclosed that it has started to transfer USDC reserves into a Blackrock-managed fund that’s registered with the U.S. Securities and Exchange Commission (SEC). In mid-April 2022, Circle detailed that the company entered an investment agreement with Blackrock Inc., Fin Capital, Fidelity Management and Research, and Marshall Wace LLP.

What is the Circle Reserve Fund?

The Circle Reserve Fund – a government money market fund managed by BlackRock Advisors – has been in the works for months after BlackRock initially sought to register it in May.