The startup recently acquired Poloniex crypto exchange and plans to expand its services globally, starting with Asia. The Circle is optimistic on cryptocurrency and says it wants to add more market options for traders.
Circle Internet Financial Ltd., a mobile-payments firm which recently announced that it has acquired Poloniex cryptocurrency exchange. It is planning to hire 100 people to expand the exchange globally.
The new plan is to improve operations, customer support, and technology at Poloniex. It will hire 25 to 35 people for its Asia operations, 10 for Hong Kong-mainland China operations and will also set up operations in South Korea and Japan. The move will help in localizing crypto exchange services according to Circle co-founder Jeremy Allaire. He also said in an interview that Circle will collaborate with authorities in its quest to expand globally.
“The long-term view is that every form of value on the planet will become a crypto token”, Allaire said in Hong Kong. “We want to offer more markets, more assets, we want to localize it, and launch it in more international markets. Critically, we need to work with the most important regulators”.
Circle products include Circle Pay, a payment app; Circle Invest, a platform for investing in digital assets; and Circle Trade, which provides market-making services. Circle Trade is planning to start supporting crypto trades in Asian currencies such as the Hong Kong and Singapore dollars according to Jack C. Liu.
The expansion will see Poloniex, which is currently available in 100 countries, expanding further. The circle will also increase its token listings and explore fiat connection to the dollar, euro and pound offered in its app.