The big money in funding this week went to banks, with Ziraat Bank, a state-owned Turkish bank, securing a syndicated loan of $1.24 billion and Brazil’s Nubank raising a $650 million line of credit.

The money will be used according to environmental sustainability criteria and to support gender equality in production, according to published reports. The bank said $352.5 million of the loan was borrowed at the secured overnight funding rate plus 275 basis points and a $885.9 million portion was borrowed at Euribor plus 210 basis points.

Meanwhile, Nubank will use a $650 million line of credit to support the digital bank’s expansion in Mexico and Columbia. The three-year credit line was financed by Morgan Stanley, Citigroup, Goldman Sachs and HSBC.

Nubank offers a no-fee credit card, and in Brazil it also offers savings accounts, insurance, personal loans and investment options.

The funding will be used for technology and product development, as well as growing the customer base and hiring, the bank stated.

Nubank is backed by Warren Buffett’s Berkshire Hathaway. Its initial public offering was held in December 2021.

The bank is preparing to launch checking accounts in Mexico this year after it received regulatory approval for its acquisition of local lender Akala, according to reports.

USDC issuer Circle raises $400M

Circle Internet Financial, which issues the stablecoin USDC, revealed Tuesday that it has received $400 million in funding.

BlackRock, Fidelity Management and Research, Marshall Wace and Fin Capital participated in the round.

Circle also announced a strategic partnership with BlackRock to explore capital market applications for the stablecoin.

This private equity funding comes on the heels of a February SPAC deal Circle renegotiated with Concord Acquisition Corp., which doubled the firm’s valuation to $9 billion. The company also announced this month that it will pursue an application to operate as a bank.

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