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Is crypto actually growing? All about crypto payment startup Circle

Goldman Sachs-backed cryptocurrency finance group Circle reportedly plans to raise around € 220 million from a combination of equity and credit.

Circle’s plan

Circle, which generates revenue from trading fees on its crypto-currency exchanges (Poloniex and the institutional offering of Circle Trade), saw its earnings decline after the crypto-crash led to a decline in trading volume. In an interview with The Information, Circle co-founder Jeremy Allaire claimed that the company’s revenues increased between 2017 and 2018 despite the decline in crypto prices.

The OTC Crypto-Commerce Desk at Circle (Circle Trade) 2018 had a volume of 21 billion euros

Circle is also the company behind the dollar-backed Stablecoin USDCoin (USDC), for which it released its third audit report in January. The coin was added to the combined Stabelcoins market by Binance in December of last year.

More partnerships

As part of a general goal to engage with a broader segment of the institutional market for crypto-commerce, Gemini – the cryptocurrency exchange founded by the Winklevoss twins – has joined the brokerage community British Telecommunications Radianz Cloud.

Published inCryptocurrencies

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