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Crypto Startup Circle Reveals How It Chooses New Token Listings

Blockchain startup Circle has released new details about how it will select cryptocurrencies for its trading and investment platforms.

On Tuesday, the firm published its Asset Framework, providing a rough outline of what aspects are evaluated when assets are added to the Poloniex cryptocurrency exchange, as well as its Circle Invest and Circle Trade product lines.

These criteria cover five different categories, which include the project’s fundamentals, the technology underpinning a token, the people behind a project, the business model employed and the available market, according to the document.

In a release, Circle explained that “one of our primary goals for Circle products like Poloniex, Invest and Trade is to provide our customers with access to innovative new projects that fuel the industry.”

Each criterion comes with a list of potential questions that Circle’s evaluators would consider when examining a project. However, the company noted that “this framework is not intended to be a comprehensive checklist of requirements that projects must meet,” explaining that “this framework is meant to help us prioritize new listings according to the opportunity they present for Poloniex customers.”

Circle also published an Asset Listing Form, which any project applying to be listed must fill out as a first step. Notably, the company noted that it “will not accept any kind of payment to list an asset.”

At present, Circle Invest already offers bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, zcash and monero to its customers.

The move comes just weeks after Circle reportedly began seeking a banking license within the United States.

The license, if approved, would enable Circle’s various platforms to trade cryptocurrency tokens that are currently considered to be securities. It is unclear whether or when Circle will receive the license.

Cryptocurrencies image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Circle Adds Monero to Crypto Investment App

Blockchain startup Circle is adding the privacy-focused cryptocurrency monero to its Invest application, the company announced Monday.

Just one week after the payment platform announced it was adding zcash to its trading app, the company added monero, according to a blog post. As with the other tokens available on the app, users will be able to purchase or invest the cryptocurrency.

In addition to the privacy coins, Circle Invest offers bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin.

In the post, Invest senior product manager Rachel Mayer wrote:

“Last week, we welcomed zcash to the coin family on Circle Invest. Today, we continue to grow our coin collection by supporting monero as our new listed crypto asset. This brings our investable crypto assets to a total of 7 coins, making Circle Invest one of the only platforms you can invest instantly and seamlessly in the widest breadth of coins by using your bank account.”

Future updates will include information on “how we think about adding assets into our products” and more new features, the post concluded.

The Invest app is a digital investment product that features zero commissions, as previously reported. While a preview indicated Ripple’s XRP might be a supported cryptocurrency, so far it has not made it onto the platform.

A Circle Invest executive did not immediately respond to a request for comment.

Monero tokens image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Circle Adds Zcash to Crypto Investment App

Circle is adding the privacy-focused cryptocurrency zcash to its list of offerings for its investment app, the startup announced Monday.

Users of the company’s Circle Invest platform can now purchase and invest the cryptocurrency, the company explained in a new blog post. The token joins bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin as available currencies through the app.

“Our mission for Circle Invest is to democratize access to investing in crypto assets for every consumer. Making the wider breadth of assets available on Circle Invest will continue to be a part of this mission, and of course doing our best to ensure that we bring the crypto without the cryptic to everyone, anywhere,” the startup wrote.

The investment app was first unveiled last year and debuted in March, as CoinDesk reported at the time. While it was initially excluded, residents of the U.S. state of New York can now access the app, according to the company. The other states – Minnesota, Wyoming and Hawaii – remain unavailable, according to Circle Invest senior product manager Rachel Mayer.

She told CoinDesk that “Circle has an established working group dedicated to finding the best crypto assets for our customers,” but declined to say why zcash specifically was chosen.

However, tokens on the platform must be “consistent with our regulatory licensure,” she explained.

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The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Circle Rolls Out Crypto Investment App in 46 US States

Four months after first announcing it, digital payments company Circle has officially launched its digital investment and storage app, Circle Invest.

Describing it as “an app that’s actually built around investing, not trends,” the company released the product for download via Apple’s App Store or Google Play on Tuesday in 46 states, excluding Minnesota, Wyoming, Hawaii and New York. The app was previously available to a select number of users for testing.

However, the company is working on making the app available in New York “very soon,” according to an email sent to customers. Circle is one of four companies to receive a BitLicense from the state, which has stringent regulations on cryptocurrency exchanges.

According to a blog post, the app is still in the “early access availability” phase, though anyone can download it. 

Users are invited to provide feedback on this version of the app, according to the post, which highlighted the app’s planned benefits:

“With no minimums, instant deposits, no commissions on a variety of coins, performance tracking and more — we’ve made it fast, cheap and simple to invest in crypto and digital assets, and we are only just getting started.”

The app allows users to invest or trade bitcoin, ethereum, bitcoin cash, ethereum classic and litecoin, with more tokens coming in the future, according to Circle’s website. While XRP appeared in a screenshot in the initial announcement, the token was not listed on the app’s website as of press time.

Users can connect their bank accounts to facilitate instant deposits, while the platform also supplies market data.

Notably, the app offers commission-free trading. According to its website, Circle Invest makes its money by taking a 1.5-2 percent difference between a coin’s buy and sell prices.

For customer protection, users are offered offline storage, two-step verification and “privacy protection,” according to an email.

The app’s launch comes weeks after Circle announced it had acquired cryptocurrency exchange Poloniex, which will serve as the foundation for a future crypto supermarket of sorts where all manner of digital tokens would be traded.

Bitcoin image via CoinDesk’s archive.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.