Circle is releasing the full version of its new investor-focused app

Peer-to-peer payment platform, Circle is launching its crypto investment app’s full version to compete with cryptocurrency funds. The company announced the app Circle Invest last year in November and it is specially focused on investors. The company then released the early access beta of its app in more than 40 states in America.

After the soft launch in March this year, Circle is launching the app with the complete set of tools and services on Tuesday. The company was recently evaluated at three billion dollars and is backed by the finance giant, Goldman Sachs.

Circle adds “Buy the Market” feature to Circle Invest

The company is releasing the app with an added new “Buy the Market” feature, which allows retail and newer investors to buy positions that are based on market cap calculations, on the seven assets that Circle supports. Investors decide on how much they are willing to invest and after that the app automatically distributes and diversifies across the supported cryptocurrencies. The company’s Senior Product Manager, Rachel Mayer said that “Buy the Market is the culmination of their hard work since the soft launch in March. The focus is on the market”. She also added:

“It is trying to solve problems of signing up and trying to be a new investor and you are not sure how much to put in and where. “Buy the Market” is just an easy way to invest in the seven assets the Circle Invest supports. You chose how much you want to invest in and we do the rest. We automatically divide the investment into specific coin market cap waiting and you can purchase the coin instantly.”

Currently, Circle Invest supports seven cryptocurrencies: Monero (XMR), ZCash (ZEC), Ethereum (ETH), Bitcoin (BTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Litecoin (LTC). More cryptocurrency projects will be added later on. The company’s intentions are to make it a cheaper alternative to existing cryptocurrency index funds, so no extra fees will be charged for the service. Recently, companies like Coinbase and Grayscale have released their own crypto index funds, allowing investors to invest in the whole cryptocurrency ecosystem. However, currently these index funds are restricted to accredited investors.

What is Circle?

Circle is a payments technology company that utilizes a peer-to-peer network. It was founded in October 2013 by two founders: Sean Neville and Jeremy Allaire. The company has a mobile platform for payments called Circle Pay and it allows users to send, receive or hold traditional fiat currencies. The company has received their first BitLicense issued from the State Department of Financial Services in New York in September 2015. In February 2018, the company announced their new purchase, the Poloniex Cryptocurrency exchange for 400 million dollars. During the time the business deal was made, there was a leak of Circle documents. In these documents, there were details on their plans to operate Poloniex. Also they revealed that the company wants to be the first regulated crypto exchange in the United States.

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Author: Peio Purlev”