Mobile payments and cryptocurrency startup, Circle, has acquired the crypto-asset exchange Poloniex.
Circle is backed by $140 million in venture capital from investors including Goldman Sachs, IDG Capital Partners, Breyer Capital, Accel Partners, General Catalyst Partners, Baidu, CICC Alpha, EverBright, WangXiang and CreditEase.
Circle has two main business lines. According to the company, “Circle Pay helps people around the globe connect to one another and share value just as they would share any other kind of content on the open borderless Internet; Circle Trade serves institutions and investors as one of the world’s largest providers of crypto asset liquidity.”
Circle says that it is also planning to launch an app that will enable individuals to tap into crypto-asset investment “through a simple, seamless, mobile experience”.
Circle, a fintech firm that offers a range of services in the crypto space, has hired John Barnett as VP and global controller.
In this capacity, Barnett will lead the firm’s accounting and tax teams and will also work to build out its business systems and procurement teams.
Most recently Barnett was the CFO at Ironwood Capital Management and the Rhode Island Foundation. His career has also included management consulting at BCG, controllership at Teradyne and financial operations and planning at Fidelity and Cabot.
How have crypto markets in Asia evolved in comparison to those in the US and Europe? And will these markets look more or less different in the future? Galen Stops takes a look.
T aking a glance at the biggest crypto exchanges by volume and a clear pattern emerges: according to data from coinmarketcap.com, a website that tracks crypto trading volumes, at least seven of the top 10 ranked exchanges are based in the APAC region.
By contrast, some of the more better known US-based exchanges are found much further down the list.