Bitcoin brokerage Circle Internet Financial said that it has closed a $50 million investment round led by Goldman Sachs and IDG Capital Partners. The company has mentioned that it is planning to introduce options for customers to hold, send, and receive US dollars.

Circle is a startup that was founded in 2013 by Brightcove Inc. founder Jeremy Allaire and Sean Neville. It allows customers to hold, transfer and receive the digital currency, Bitcoin.

The company added that if any of its users decide to keep dollars instead of bitcoin in their accounts, then they can pay any person or merchant, accepting bitcoin without ever holding bitcoin themselves. Circle is going to handle instant conversion from dollars to bitcoins and vice-versa.

Initially, the feature will be available to select customers and later the company will be offering it to more users every week.

All of Circle's existing investors have joined Goldman Sachs and China-based IDG Capital. Goldman Sachs Group Inc. has made an investment in a $50 million fundraising round in bitcoin startup Circle Internet Financial Ltd., which is another sign of the growing interest in digital currency technology by established financial institutions.

Late Wednesday, Circle said in a statement that the round was co-led by IDG Capital Partners, and existing Circle investors such as Breyer Capital, General Catalyst Partners, Accel Partners and Oak Investment Partners were also present there. The company has been offering a variety of services for storing and using bitcoins.

In a telephone interview, Jeremy Allaire, chief executive officer of the Boston-based venture, said with this round, Circle's total funding has reached to $76 million. He mentioned, "It is a material step-up in valuation from our past financing". He refused to disclose the specific value.