Circle in cross-border move

Circle Internet Financial, a US mobile payment company, has raised $60 million from investors and launched an independent China venture to tap into local consumers' growing purchasing power.

The latest round of funding is led by Beijing-based tech investment fund IDG Capital Partners. Other investors include Baidu Inc and Breyer Capital, a global venture capital firm.

The three-year-old startup aims to offer instant and free-of-charge cross-border money transfer services by leveraging the Bitcoin blockchain technology.