Circle, founded in 2013 by Jeremy Allaire and Sean Neville, is a well-known firm in the bitcoin space. A lot of venture capital (approx 136 million USD) has been injected into Circle. Giants like IDG Capital Partners and Goldman Sachs have invested in Circle. It is headquartered in Boston, Massachusetts.
Initially, when the company started it sold BTC to customers through an iOS and Android app. However, it stopped the service back in 2016. Following this pivot the firm operated by offering large over-the-counter sales to investors internationally.
Circle’s mobile payment platform, Circle Pay, allows users to hold, send, and receive traditional fiat currencies. The first BitLicense issued by the New York State Department of Financial Services was given to Circle in September 2015. Following that, in April 2016, the British government also approved the first virtual currency license to Circle.
Circle Pay also operated as a bitcoin wallet service up until December 2016, to buy and sell bitcoins. However, it has since ceased to provide such service. It claims the company “is now more than ever not a consumer bitcoin exchange, and will continue to focus resources on global social payments and future next-generation blockchain technology”. Circle has launched a Bitcoin Blockchain-based remittance and messaging application to serve the unbanked.
Then Circle announced the launch of the new services back in November of 2017, It claimed it would offer liquidity, no commissions, custodial accounts and multiple cryptocurrencies. The company also said that Circle Invest would feature bitcoin core, ethereum, ripple, bitcoin cash, and litecoin. It’s unclear right now whether the ripple will be added at a later date.
Users are given the familiar Circle theme when opening the app with an interesting pastel color look. Anyone who is comfortable with the latest Coinbase application or Circle’s older platform should have a good understanding of how to use the platform.