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Bitcoin Brokerage Circle Gets $50 Million Investment

Users can pay any person or merchant who accepts bitcoin without ever holding bitcoin themselves.

Circle

Bitcoin brokerage Circle Internet Financial said it closed a $50 million investment round led by Goldman Sachs and IDG Capital Partners.

The company also said it will start giving customers the ability to hold, send and receive U.S. dollars.

Circle, a startup founded in 2013 by Brightcove founder Jeremy Allaire along with Sean Neville, allows customers to hold, transfer and receive the digital currency Bitcoin.

The company said if its users choose to keep dollars instead of bitcoin in their accounts, they can pay any person or merchant who accepts bitcoin without ever holding bitcoin themselves.

Circle will handle instant conversion from dollars to bitcoin and vice versa.

The feature will be initially available to select customers and the company will offer it to more users every week.

Goldman Sachs and China-based IDG Capital were joined by all of Circle’s existing investors.

(Reporting by Anya George Tharakan in Bengaluru)

This article originally appeared on Recode.net.