Circle company specializing in mobile payments and cryptocurrency trade and supported by Goldman Sachs, aims to attract customers who first decided to buy a digital currency.
May 22 company of Boston provided in his application Circle Invest a function called Buy the Market, which allows you to purchase all seven digital coins offered on the platform.
The minimum investment amount is $1, and funds are automatically distributed among the tokens in accordance with their share in the market capitalization. According to CEO Jeremy Allaire, Circle is also making a 1% spread between purchase prices and sales, so that investors could generate income. Coins submitted in the application is a bitcoin, Cash Bitcoin, Ethereum, Ethereum Classic, litecoin, Monero and zcash for.
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Other cryptocurrency companies already have similar products. For example, in March Coinbase announced that launches index Fund for accredited investors that allows you to track four coins at this exchange. Unlike Coinbase, Circle has established a low investment threshold and offering your product to retail customers, which opens up for a vast number of potential customers, says its head.
Some cryptocurrency startups are eager to serve accredited investors or more experienced traders on fears that the U.S. Commission on securities and exchange Commission (SEC) will continue to insist that the majority of tokens should be classified as securities. According to Allaire, coins, represented his company in the application does not fall into this category. Circle, which in February acquired the cryptocurrency exchange, Poloniex, actively discussing the aspects of doing business with the SEC, he said.
In addition, the company is interested in obtaining the right to conduct banking operations and expansion of its business, including the storage services and lending.
Last week, Circle announced that it has closed a round of financing, led by mining giant Bitmain Technologies, which invested $110 million to Circle and Bitmain are in partnership to create digital tokens that are supported by the US dollar. They will be released this summer.