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Circle’s SPAC Partner Looks To Delay $9 Billion Acquisition Of Stablecoin Issuer Until 2023

1 min read Original Link

Concord Acquisition Group is planning to delay its already-postponed purchase of Circle Internet Financial, the primary issuer of the USD Coin cryptocurrency, until the end of January, a filing with the Securities and Exchange Commission indicated.

Circle is the primary issuer of USD Coin (USDC), a blockchain-based token pegged to the dollar with a $43 billion circulating supply. It is the top challenger to market leader Tether, the controversial stablecoin with a $63 billion market capitalization.

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