Circle Closes SeedInvest Acquisition Following FINRA Regulatory Approval

https://phys.org

US peer-to-peer payments technology company has recently acquired equity crowdfunding firm SeedInvest, according to Coinbase’s recent blog post published March 4.

Initially disclosed back in October, the acquisition was inked in an effort to expand SeedInvest’s services to digital assets, including fiat-backed stablecoins as well as tokenized securities. The deal was deferred pending the US Financial Industry Regulatory Authority’s (FINRA) approval.

As explained in the announcement, after securing FINRA’s regulatory approval, the acquisition was subsequently closed, allowing Circle to take over SeedInvest’s operations and further explore asset tokenization.

As it stands, the equity crowdfunding firm has backed more than 220 startups with over 260,000 registered users, bringing SeedInvest’s total investment to approximately $115 million.

Recently, an exclusive report published March 2 has also indicated that Circle is currently working on raising around $250 million in new funding through a combination of equity and debt.

Meanwhile, Coinbase’s recently closed acquisition of digital intelligence firm Neutrino has since sparked a controversy alleging that the firm was linked to Hacking Team, a Milan-based information technology company reportedly involved in selling tracking software to authoritarian regimes.