Share this article
Circle's CENTRE Raises $20 Million in SAFT Sale
Circle has raised $20 million in a Simple Agreement for Future Tokens (SAFT) sale for its ethereum-based "CENTRE" payments network.
By Stan Higgins
Updated Dec 11, 2022, 2:05 p.m. Published Dec 8, 2017, 8:10 p.m.
A subsidiary of blockchain startup Circle created to build an ethereum payments network has raised $20 million in a Simple Agreement for Future Tokens (SAFT) sale.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
, the business is aimed at providing a way for different payment applications to connect through the use of tokens issued on the ethereum blockchain. The plan will see CENTRE employ its CENT token as means to access the network, as well as connect applications that don't share a common national currency.
The funding will go toward developing the network as well as setting up a non-profit foundation that will operate independently of the Boston-based startup. A representative said that the $20 million in funding is being held by the CENTRE subsidiary, separate from Circle.
Circle CEO Jeremy Allaire and president Sean Neville wrote in a blog posthttps://www.centre.io/pages/news:
"As a result of this funding, the CENTRE Foundation now has the capital to recruit talent, invest further in research and development, build partnerships, and become a non-profit entity independent of Circle."
The CENTRE sale is the latest instance in which the SAFT – based on the Simple Agreement of Future Equity (SAFE) contract employed by accelerator Y Combinator – has been employed.
Allaire and Neville wrote that the sale comes ahead of a planned public sale of CENT tokens, the date of which has not been released.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Circle.
Marble image via Shutterstock
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Grayscale sees regulation, not quantum fears, shaping crypto markets in 2026
U.S. market structure legislation is poised to be the dominant force for digital assets, while near-term concerns about quantum computing are overdone.
What to know:
- Grayscale expects a bipartisan U.S. crypto market structure bill to pass in 2026.
- Clearer rules could accelerate institutional adoption and onchain activity.
- Quantum computing risks are real, but unlikely to affect prices next year, the asset manager said.
Top Stories
