Bitcoin brokerage Circle Internet Financial is said to be raising as much as $40m in new funding.
As reported by Fortune, Circle is raising the funds at a valuation of $200m, citing persons with knowledge of the negotiations.
A spokesperson for Circle declined to comment, according to the report, but indicated that the company would make an unspecified announcement in the coming days.
The move, if confirmed, would represent Circle's largest funding effort to date. Circle raised $17m in a Series B round last year, following an earlier $9m in Series A funding from 2013.
The funding would raise Circle's total investment to $66m.
Bitcoin News has reached out to Circle for comment but did not receive an immediate response.
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