As the month of February came to a close, the Goldman Sachs-backed payment company Circle acquired well-known US-based cryptocurrency exchange Poloniex to bolster its offering and enable "individuals to tap into crypto asset investment through a simple, seamless, mobile experience” via the Circle Invest app. Today, that Circle Invest app has begun rolling out across the United States, starting first in 46 US States.
Over on The Circle Blog, Senior Product Manager Rachel Mayer announced the availability rollout. Users in US States, not including New York, Minnesota, Hawaii, and Wyoming, can download the Circle Invest app via the Apple App Store or Google Play Store.
The app offers “no minimums, instant deposits, no commissions on a variety of coins, performance tracking and more.” Mayer continues, “we are only just getting started.”
Circle has also received a BitLicense so they can offer the app in the state of New York. BitLicense is a required but controversial business license that allows virtual currency activities in the state that came into effect in August of 2015. Circle is one of only a handful of companies to receive a BitLicense. Circle says access to the app will be available in New York “very soon.”
The app offers an easy-to-use streamlined user interface that allows the purchase of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin at the time of publication. The app also offers the tracking of return on investments via charts and a portfolio tab, showing one day, one week, one month, and one year changes.
Backed by major financial players such as Goldman Sachs, Circle is a payments company that is rapidly expanding into the cryptocurrency space to offer their customers even more financial service options. Circle has big plans for the acquisition of Poloniex, with the Circle Invest rollout only being the first step in how the major exchange will play into its overall strategy as a financial services provider and payment company.