Circle acquires crypto exchange Poloniex

On Monday, Circle announced that it has managed to acquire the American crypto exchange dubbed Poloniex, thus confirming recent speculation about the deal.

In its statement the company told that its team would be greatly reinforced by the customer support and operational resources from Circle. As a result, they would be capable of going forward. By the way, Circle shelled out approximately $400 million to have Poloniex bought out that launched in 2014.

In its remark Circle told that it’s on the verge of building on the work carried out previously by the Poloniex staff members, setting the objective of pushing it past being a typical exchange for only digital currencies.

As co-founders Sean Neville and Jeremy Allaire told, they envision a sturdy multi-sided distributed marketplace capable of hosting tokens representing everything of value: equity and fundraising, physical goods, creative productions, real estate, credit, service leases, futures and so on.

Poloniex emphasized that its users won’t face any disruption of services in the transition period.


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