May 2018 Summaries

Circle Internet Financial has introduced a new feature called "Buy the Market" on its Circle Invest platform, designed to simplify cryptocurrency investment by allowing users to allocate their chosen investment amount across all supported coins, including Monero and Zcash, according to each asset's market capitalization. This feature is distinct from other crypto investment products, which often impose high minimums and management fees, by offering a frictionless experience with competitive pricing. "Buy the Market" aims to make investing in multiple cryptocurrencies accessible to a broader audience, positioning itself as an innovative solution for those wanting to engage with the crypto market with ease. Circle continues to focus on transforming financial transactions to enhance economic opportunity and efficiency globally.

Circle Internet Financial has announced a partnership with Bitmain that includes a $110 million Series E equity investment to support the creation of USD Coin (USDC), a fiat-backed stablecoin designed to provide a price-stable medium of exchange on the blockchain. USDC aims to facilitate global financial interoperability by offering a full-reserve, US dollar-backed stablecoin within the regulated framework of US money transmission laws, addressing issues of transparency and regulation that have plagued existing fiat-backed solutions. Governed by the CENTRE open-source framework, USDC is built to operate with detailed financial transparency and established banking relationships, and it will be available as ERC-20 tokens. Bitmain's involvement underscores its vision of a new global economy powered by cryptographic assets and open-source blockchain technology, as it joins other strategic investors in supporting Circle's mission to create an inclusive, efficient, and open financial model. The investment and partnership aim to introduce multiple fiat-backed stablecoins across various regions, enhance Circle's existing product suite, and contribute to a more interconnected global economy, with the CENTRE consortium allowing other financial institutions to participate in this ecosystem.

Circle Invest has expanded its cryptocurrency offerings by adding Monero, bringing the total number of coins available for investment on the platform to seven. This addition follows the recent inclusion of Zcash and positions Circle Invest as one of the few platforms allowing users to invest in a diverse range of cryptocurrencies using their bank accounts. Circle aims to revolutionize financial transactions by making them more accessible and efficient, thereby enhancing global economic opportunities. Users are encouraged to follow Circle Invest on Twitter for updates and additional features, as well as to start investing in Monero through the app.

Circle Internet Financial is set to implement a new trading fee structure on May 15, 2018, aimed at providing more consistency and competitiveness for users of its Poloniex exchange. The revised fees will be based on 30-day trading volumes measured in US Dollars, rather than Bitcoin, to avoid confusion caused by Bitcoin's volatility. The changes include reduced starting fees for both makers and takers and lowered volume thresholds for fee discounts, rewarding more active traders. The adjustments are part of Circle's broader effort to refine the user experience and align its pricing with market standards, reflecting the dynamic nature of cryptocurrency markets.