Recently, I had longtime tech entrepreneur Jeremy Allaire for a visit at Re/code Global HQ to talk about his latest startup, Circle Internet Financial.
The digital currency company just raised $17 million, for a total of $26 million from a range of venture capitalists and other investors.
So what does Circle do for all this cash? It’s betting on cash-killer bitcoin, of course!
As Jason Del Rey noted in a recent post:
Circle is a website where people can purchase and store bitcoin. Users can also send bitcoin to other individuals or to a company that accepts bitcoin as a form of payment. Other new companies do similar things, but mostly charge for some piece of their service.
Coinbase, for example, lets people buy bitcoin, but the company charges a one percent fee to do so. A new startup called Xapo will store your bitcoin data and backup data in physical locked vaults, but charges a small fee for that privilege.
Circle is choosing not to charge for anything. Its goal is to get as many people familiar with bitcoin as possible by making it easier to sign up and use bitcoin.
Early days, but here’s my video interview with Allaire — who created the publicly traded online video company Brightcove — talking about it all:
This article originally appeared on Recode.net.