From Coindesk
In the not-so-distant future, VC-backed startup Circle has plans to create a type of crypto cantina.The news comes following Circle's buyout of cryptocurrency exchange Poloniex, announced Feb. 26. Notably, the acquisition is one of, if not the largest, acquisitions in the industry to date.
Circle president Sean Neville told CoinDesk:
"Rather than seeing a single Star Wars-type token that is good for everything across the galaxy, we'll see a proliferation of tokens that have different functions."
To that end, Neville believes the new service, formally called Circle Poloniex for now, will offer an entirely new kind of exchange, one that gives users access to a whole host of cryptocurrencies and crypto tokens.
According to Circle executives, the acquisition is a win-win for both companies.
Circle customers will once again have the ability to buy and sell bitcoin (a service the company shut down in December 2016) and many other cryptocurrencies. And Poloniex's customers will get access to Circle's well-oiled and licensed business machinery, which has been developed over the past five years with $140 million in venture capital.
The benefits for Poloniex will likely be huge since the exchange's fast-paced business has slowed somewhat in the past several months in the face of an onslaught of complaints about its service.
I'm excited about this purchase and hopefully the robust product to come.
Leave your thoughts in the comments below.
Follow @contentjunkie to stay up to date on more great posts like this one.
Click one of the links below to signup for a free crypto trading account
We will see. It will take a major turnaround to restore poloniex's reputation and we don't know what circle's intentions really are for the site.
Do you all think this is Goldman trying to get in early and innovate, or are they going to keep an tight grip on this industry and regulate heavily?
Thanks for the post!
What do you think about upcoin?
With your free steem you could get a lot out of it.Also have you looked into @steembasicincome
(Ps. If you happen to nominate me as well i would be very greatful and you could count on my upvote)
This post has received gratitude of 10.10% from @appreciator courtesy of @contentjunkie!
If you believe this post is spam or abuse, please report it to our DiscordYou got a 8.63% upvote from @buildawhale courtesy of @contentjunkie! #abuse channel.
If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.
11.50% @pushup from @contentjunkie
Thank you for collaborating with me to promote this post as explained at https://steemit.com/steemit/@jerrybanfield/10-ways-to-fund-a-steem-growth-project.
You got a 6.50% upvote from @postpromoter courtesy of @contentjunkie!
Want to promote your posts too? Check out the Steem Bot Tracker websitevote for @yabapmatt for witness! for more info. If you would like to support the development of @postpromoter and the bot tracker please
No exchange at the moment is an outight leader this is definatley a market where someone can take hold and provide a superior and trustworthy product.
Poloniex was faltering and losing ground to binance and other exchanges like Kucoin. Its going to be interesting im all for improvement on exchanges becasuse we need it some of these websites are shockingly poor