Circle Financial CEO: “We Trade Over $1B in Crypto per Month”



Finance

The Boston-based bitcoin startup, Circle Financial, announced last year they would stop buying and selling bitcoin from users, but the company claims to still be the “second largest crypto asset trader in the world,” according to CEO Jeremy Allaire.

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Circle Financial Claims to be the ‘Second Largest Crypto Trader Worldwide’

Last December, the company Circle Financial announced that it would stop servicing direct consumer bitcoin trades. The company surprised many bitcoiners as it pivoted its business model to handle cross border cryptocurrency payments and Over the Counter (OTC) trading. According to Circle’s founder, Jeremy Allaire, even though the startup stopped managing direct bitcoin services for consumers, the company still maintains a lion’s share of cryptocurrency trading. When recently asked what Circle has been up to lately Allaire responded by saying;

We use bitcoin and ether, and we are the second largest crypto asset trader in the world. We directly trade over $1B in crypto per month.

Circle Provides ‘Significant Scale in OTC Trading With Large Natural Buyers’

Circle’s CEO Jeremy Allaire says the company is still very much involved with bitcoin.

Circle announced its decision to create, “Spark,” a cross border payment system aimed at citizens in the Philippines and Korea. Alongside this, the company would deal with OTC exchanges between large financial institutions and would eliminate the Circle app’s direct bitcoin purchases and sales. In response to Allaire’s comment about being the second largest crypto trader globally one individual asks, “Where? Your app has forbidden…

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