Crypto heavyweight, Circle stated in a blog post that their OTC (Over-the-counter) business has carried out over $24 Billion worth of trades. Interestingly, this is a huge number considering the fact that trade volumes are not a topic of public discussion.
Circle Trade, has continued to expand despite a tumultuous year for the industry: we onboarded a record number of new institutional clients, grew our trading operations to 24/7 with coverage in the US, Europe and Asia. As per claims by the enterprise, over 600 counter parties successfully executed over 10,000 trades over 2018. Primary customers of the desk include founders, miners trading firms and VCs.
It boasts of a thousand institutional partners from all over the world. These include United States, Asia, the Middle East and Europe. Additionally, over 150 new recruitments complement the growth.
Circle Trade has become a core liquidity provider to the entire crypto ecosystem
The crypto heavyweight acquired Poloniex in early 2018. Subsequently, Poloniex witnessed a series of upgrades from a regulatory and engineering perspective. This also included revamping the customer signup and identity verification process.
In line with top exchanges in the industry adding new crypto assets, Poloniex added several tokens over 2018 – EOS, BAT, SNT, KNC, LOOM, FOAM, MANA, BNT and USDC. Along with addition of several tokens, 20 assets were delisted from Poloniex.
Purpose of Circle Invest
Circle Invest serves as a frictionless means of investing in crypto. Despite the highly volatile crypto market, over 30% of purchases on Circle Invest are recurring.
Broker Dealer Acquisition with SeedInvest
The enterprise has also acquired SeedInvest. The enterprise also owns a registered broker-dealer and is the largest equity crowdfunding platform in the United States.
The acquisition, although pending regulatory approval, is an important indicator Circle’s high ambitions.
We believe more traditional assets will become securitized through tokenization, and that includes shares in companies, debt and other lending contracts, and other forms of property and value.