⚡ Circle Launches Early Access to Investment App in 46 U.S. States
Digital payments app Circle made major headlines back in February when it announced its acquisition of popular crypto exchange Poloniex. Since Circle boasts Goldman Sachs as one of its investors, many hoped this move would be a step forward in the legitimization of cryptocurrency. Circle appears to be making even more strides in the crypto world after having released Circle Invest, its own cryptocurrency investing app, in 46 U.S. States.
Circle eyes big plans for cryptocurrency
Circle’s main product is Circle Pay, an application that facilitates peer-to-peer payments in the form of text messages. As previously mentioned, since its inception in 2013, Circle managed to catch the attention of many investors, which allowed it to become one of the most well-funded blockchain startups in the United States. The release of Circle’s newest addition to its “family,” as described by the company’s CEO, Jeremy Allaire, comes after the completion of a limited test phase.
According to its official blog, Circle Invest promises zero commissions on cryptocurrency purchases, with Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ethereum Classic currently available. More coins are expected to be added in the near future. Furthermore, instant deposits can be made without having to worry about a minimum. Users can view their investments as well as price changes in a portfolio function provided by the app. As highlighted in the blog post, the staff encourages users to provide feedback on the application’s pros and cons, stating that they “are only just getting started.”
Circle Invest begins operating in most states
Those who pay close attention to regulation in the crypto world know that legislation can vary country to country. In the U.S., regulation differs from state to state. It looks like Circle has managed to pass the necessary hurdles to operate in 46 of them, except for Minnesota, Hawaii, Wyoming, and New York. According to Circle’s blog, the app is set to become available in New York “very soon,” presumably using its BitLicense that Circle acquired back in 2015.
Circle is certainly setting itself up to be one of the major business in blockchain to watch in 2018. It will be interesting to see where the company goes from here.
Phoebe Phillips | Editor
March 14, 2018