Poloniex to Expand to Asia

Poloniex Exchange

Circle, which acquired Poloniex exchange on February 26th of this year, plans to hire 100 employees in Asia to expand the reach of the cryptocurrency exchange.

Bloomberg reported on March 15th that Circle’s CEO Jeremy Allaire told in an interview in Hong Kong that the objective of the expansion was to facilitate the use of the platform in South Korea, Japan, China and Hong Kong.

According to the Circle website, the Ireland-based payment service provider is backed by $140 Million in venture capital from large institutional investors such as Goldman Sachs, Baidu, and investment bank China International Capital Corp.

Allaire assured that Circle plans to work with Asian regulators:

“We want to offer more markets, more assets, we want to localize it, and launch it in more international markets and, critically, we need to work with the most important regulators.”

“The long-term view is that every form of value on the planet will become a crypto token,” he added.

The company’s CEO also stated that Circle would not look for anymore funding this year, as it is the second year that the company is profitable.

On March 13th, Circle, which processes over $2 Billion in cryptocurrency transactions every month, made its crypto-investment platform “Circle Invest” available in 46 American states.

 

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