Circle Acquires Poloniex
The well-known bitcoin startup Circle announced the purchase of the popular American crypto exchange Poloniex, which is intended to become “a key element of the company’s product line.”
The amount of the deal is not disclosed, however, according to the editor of the Fortune edition of Robert Hackett, Circle bought Poloniex for $400 Million.
The Poloniex press release says that the trading platform team will continue to improve customer support and improve the overall performance of the stock exchange.
“With Circle’s depth of experience, we could not imagine a better strategic partner to help us scale Poloniex beyond this phase of initial growth”.
Also, according to representatives of Circle, efforts will be made to expand the business, including new tokens in the listing, as well as adding fiat currencies, including US dollar, Euro and British pound.
In turn, the administration of Poloniex assured its users that during the transition period the exchange will operate as previously and their funds will be fully safe.