USDC stablecoin issuer Circle’s investment arm Circle Ventures has strategically invested in Layer 1 Blockchain Sei. The companies announced on Wednesday that the strategic investment includes go-to-market advice around Circle’s stablecoin infrastructure.
Developers and entrepreneurs can now access instantaneous, fast settlements of transactions with USDC. This means increased liquidity and improved transactions across borders for both users and developers on the Sei network.
Samy Karim, Director at the Sei Foundation, said that “the entire Sei team is thrilled to work strategically with Circle Ventures, to create brand new use cases for USDC that leverage Sei’s infrastructure.” Stablecoins have become increasingly important for the growth of the crypto market and Karim noted that this infrastructure can scale up to meet the demand.
Circle’s USDC is the second largest stablecoin in the market behind USDT and has seen significant expansion across the ecosystem. Recently, the stablecoin has expanded to the Ethereum Layer 2 network Optimism. As CoinJournal reported in August, the partnership between Circle and Optimism brings about native USDC mainnet support. The platform has institutional access ramps that allow for easy entry and exit.
Sei’s mainnet was launched in August and the company raised $30 million through a funding round that was backed by Jump Crypto, Multicoin Capital, Bitget, and Foresight venture firm. Crypto exchanges have secured more than $50 million in April.