Circle Internet Financial has announced that Poloniex, its cryptocurrency exchange, will spin off into an independent company called Polo Digital Assets, Ltd., backed by an Asian investment group. This move is intended to give Poloniex the freedom and resources needed to compete internationally, with plans to invest over $100 million and hire more than 100 full-time employees. As a result, US customers will no longer be able to trade on Poloniex starting November 1, 2019, but will still have access to their wallets until December 15, 2019. Circle, on the other hand, will focus on expanding its services around USDC, the fiat stablecoin, and SeedInvest, its equity crowdfunding platform, as part of its mission to create an open global financial system. This strategic shift aligns with Circle's broader vision of transforming financial services by integrating crypto with traditional finance, aiming to provide inclusive, efficient, and secure economic opportunities globally.