AngelList to Roll Out “Several Crypto-first Features,” Starting with USDC Enabled Funds

AngelList to Roll Out “Several Crypto-first Features” Across the Platform, Starting with USDC Enabled Funds

This week, AngelList introduced USDC enabled funds.

The website for startups, angel investors, and job-seekers will now allow investors to invest in any USDC-enabled syndicate or fund through the stablecoin USDC.

The process to invest via USDC is pretty simple as in the closing flow, there will just be a different option; rather than ACH or wire, there’ll be USDC. The investor has to just click on the USDC option, scan the QR code or copy the Ether address to send the crypto asset from their wallet.

USDC, however, is just the beginning, as shared by CEO Avlok Kohli & co-founder Naval Ravikant in an AngelList Confidential 2021 Keynote on Wednesday.

“This is just the beginning of several crypto-first features that we’re actually going to be rolling out across AngelList.”

USDC is a rapidly growing second-largest stablecoin with a market cap of $31.2 billion, which has captured 24.6% of the stablecoin market share, up from 4.34% a year back.

“Super excited to partner w AngelList on one of the fastest-growing methods of startup funding and eventually treasury operations,” said Jeremy Allaire, Co-founder & CEO of Circle, which formed a consortium called Center with Coinbase to launch the stablecoin USDC.

The same day, the company also launched a new suite of products called AngelList Stack that will help founders start, operate and maintain ownership over their companies. The new software will cover end-to-end incorporation, business banking, advisor equity grants, and cap table management.

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Author: AnTy

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