Why Circle Acquired Poloniex – The Reasons Behind the $400M Deal
Circle Acquires Poloniex Exchange
Experts in the matter agree that this move performed by Circle is one of the many others to come during this year.
“I think this is a really good sign for the industry. It shows that a lot of companies are going to start consolidating and that will bring out the best talent,” commented Erik Voorhes, CEO of digital asset exchange ShapeShitft. “I think you are going to see a lot of that in 2018. These companies have so much capital at this point.”
At the moment, Circle has different products in the market, as Circle Pay, Circle Trade, and Circle Invest. All of these products and services allow individuals, enterprises, investors and institutions to have access to the cryptocurrency market and liquidity at all times. By acquiring Poloniex, Circle aims to open a “global token marketplace,” an important “key element” of Circle’s product foundation.
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