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Report: Circle’s OTC Crypto Trading carries out $24 Billion Worth of Trades

Circle

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

Acquring Poloniex

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. 

Circle

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.

Also Read: Government Shutdown prevails Trump’s Border Wall – Cross Border Payments in a frenzy

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.

Circle

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.

 

Also Read: Ethereum ( ETH) supersedes Ripple (XRP) in terms of Market Cap

 

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