As the platform rolls out a major update, the second-largest stablecoin, Circle Inc.’s U.S. Dollar-pegged USD Coin (USDC), can be used to fund AngelList residents.
USD Coin is now available on AngelList.
The two teams have formed a partnership, according to a joint official announcement from Circle and AngelList. On AngelList, Circle’s USD Coin has become the newest instrument for startup funding.
Introducing USDC Enabled Funds.
Investors can now invest via USDC in any USDC-enabled syndicate or fund. pic.twitter.com/Vpx6dXj1W9
— AngelList (@AngelList) September 28, 2021
Stablecoins can thus be used to support AngelList residence by VC capitalists and angel investors investing in a USDC-enabled syndicate or fund.
Circle Inc.’s CEO and co-founder, Jeremy Allaire, emphasizes that his main product is evolving into a novel way of start-up funding, and that this is just the beginning:
I’m thrilled to be working with AngelList on one of the fastest-growing methods of startup funding and, eventually, treasury management.
The addition of USD Coin to AngelList’s toolkit, on the other hand, has the potential to significantly democratize the process of investing in early-stage startups.
What’s new in the AngelList Stack, from platform to ecosystem?
The USDC integration is part of the AngelList Stack update, which adds a new set of products to the platform’s toolkit. With the AngelList Stack, all of the platform’s clients will have access to a comprehensive one-stop shop for product development.
AngelList Stack has a “founder-friendly” incorporation process, as well as physical and virtual debt cards and single-link fundraising.
According to its team’s statements, a new set of workflows is being developed to automate banking, equity management, fundraising, and hiring processes.