Circle Organizes for Stablecoin Platform Focus in 2020

Circle Internet Financial is focusing on stablecoins and dollars on public blockchains, particularly USDC, to drive global financial innovation and inclusion. With a mission to make money more programmable and commerce more cost-effective, Circle aims to enhance its platform services by introducing new global payment, custody, and wallet APIs that will facilitate the adoption of stablecoins. The company has streamlined its operations by selling its Circle Trade OTC business to Kraken, spinning out its Poloniex exchange, and winding down its Circle Pay application, allowing for a concentrated focus on stablecoin platform services. Organizational changes, including the departure of Co-CEO Sean Neville and other executives, align with this focus, as Circle prepares for the mass adoption of cryptocurrency driven by stablecoins, third-generation blockchains, and global policy interest. The company's vision remains committed to building an open global financial system, leveraging its robust platform infrastructure for broader applications while fostering a talented team to navigate the technical, regulatory, and product challenges of the evolving crypto industry.

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