Circle, the bitcoin blockchain-centric peer-to-peer payments firm, has raised $60 million in a new funding run from investors in China and has revealed the formation of ‘Circle China,’ based out of Beijing.

Blockchain-based payments company Circle has announced a new series round of funding which sees $60 million raised from what the company calls a “syndicate of major Chinese strategic investors.”

Led by Beijing-based venture capital firm IDG Capital Partners, the funding round includes global venture capital and private equity firm Breyer Capital. The two firms have notably partnered in the past, backing entrepreneurial endeavors in China and the United States.

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