Feb 17 (Reuters) – Fintech company Circle Internet Financial said on Thursday it was valued at $9 billion under new deal terms for its merger with blank-check firm Concord Acquisition Corp (CND.N).
The previous agreement with Concord announced in July that valued the company at $4.5 billion has now been terminated, Circle said.
The company cited its improved financial outlook and competitive position, particularly in the USD Coin (USDC) market, as a key reason for amending its deal with Concord.
The USDC is a stablecoin cryptocurrency, whose value is pegged directly to the U.S. dollar.
Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.
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