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Company Profile:
Circle Internet Financial

The sole issuer of USDC, the USD backed stablecoin.

Circle Company History

Circle Internet Financial is a global fintech company founded in 2013 by Jeremy Allaire and Sean Neville. Headquartered in Boston, Massachusetts, Circle aims to transform the world of digital finance through its innovative products and services that focus on stablecoins, particularly its widely-used USD Coin (USDC).

Jeremy Allaire, an experienced entrepreneur, serves as Circle's CEO. He previously co-founded Brightcove, an online video platform, and Allaire Corporation, which developed the web development platform ColdFusion. Sean Neville, Circle's co-founder, is a seasoned software engineer and architect with a background in financial services and technology.

In addition to its core offerings, Circle has also co-founded, a consortium established in collaboration with Coinbase. is responsible for creating and maintaining the USDC stablecoin, which has become an integral part of the digital finance ecosystem. This collaboration between Circle and Coinbase further emphasizes the company's commitment to promoting the adoption of stablecoins and expanding the potential applications of digital currencies.

Together, Allaire and Neville have built Circle into a fintech leader known for its Circle wallet to facilitate seamless money transfers, payment processing, and cryptocurrency management for USDC. Their vision has led to the development of groundbreaking solutions that are shaping the digital finance landscape and promoting the adoption of stablecoins like USDC in various financial applications.

Circle's Stablecoin Competitor:
Tether (USDT)

One of the earliest stablecoins and has maintained a dominant position in the market due to its widespread adoption. USDT's reserve policies differ from that of USDC in how they manage the 1:1 peg, as they extend beyond cash and US Treasuries. Tether's extensive integration across various exchanges and platforms has contributed to its popularity, but it has faced scrutiny over its transparency and reserve audits in the past. Read more in our USDC vs USDT blog post.

Circle's Stablecoin Competitor:

DAI, created by the MakerDAO project, is a decentralized stablecoin that is algorithmically pegged to the US dollar. Unlike USDC and USDT, which rely on a centralized entity to maintain their dollar reserves, DAI operates on a decentralized basis, using smart contracts and collateralization of assets to maintain its stability. This decentralized approach appeals to users who prioritize decentralization and censorship-resistance, but it can also be more complex to understand and use compared to centralized stablecoins like USDC.

Interestingly, MakerDAO's DAI reserves are partially backed by USDC, which highlights the interdependence and interconnectedness of stablecoins in the market. In fact, Maker governance agreed in Q4 2022 to custody $1.6 billion in reserves with Coinbase, further emphasizing the importance of collaboration and trust between different players in the stablecoin ecosystem.