5 Interesting Learnings from Circle at $2.3 Billion in “ARR”
SaaStr
JUNE 11, 2025
The “Regulatory Moat” Strategy: Compliance as a Competitive Advantage Circle was the first to receive a New York State BitLicense, which is famously difficult to obtain, in 2015. This early investment in regulatory compliance has become their key differentiator against Tether and newer entrants.
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