A subsidiary of the blockchain startups Circle, created for the development of the Ethereum network payments, has collected $ 20 million under the contract “Simple Agreement for Future Tokens” (SAFT).
The company CENTER, which aims to create a network in which interaction can take a variety of payment applications using tokens issued on the ethereum blockchain. To access the network will be used CENT token, this token will be used also for interaction between applications that have no common national currency.
Funding will be directed to network development, and the creation of a non-profit Foundation, which will work regardless of a startup in Boston. A company representative stated that all collected funds, in the amount of 20 million U.S. dollars, will be available to the subsidiary CENTER that is independent from the Circle to dispose of them.
CEO of Circle Jeremy Allair and President Shawn Neville commented on this situation in his blog:
As a result of this funding, the Foundation CENTER now has the capital to attract talent, further investment in research and development, creating partnerships and functioning as an independent Circle non-profit organization.
In the future it is planned to conduct the ICO for sale CENT, but the date of this event is still unknown.