Circle Sells Off Circle Invest While Riding the Crypto Bull

Circle’s Strategic Shift Amid the Crypto Boom

In a surprising twist that would make even your investment advisor raise an eyebrow, Circle, the Goldman Sachs-backed crypto star, has decided to part ways with its digital asset investment app, Circle Invest. The buyer? None other than Voyager Digital Canada, the cool kid on the digital asset broker block.

What’s the Deal?

Under the terms of this deal, which was announced on February 12, the integration resembles a digital matchmaking service. Circle Invest customers will get to cozy up to the Voyager Platform, with the transition expected to complete by the end of March 2020. It’s like a friendly merger, but with fewer awkward family dinners.

Benefits for Circle Invest Users

So, what’s in it for the folks at Circle Invest? Voyager is rolling out the red carpet with promises of zero-fee trading for over 30 cryptocurrencies. Yes, zero fees! That’s like finding a unicorn in your backyard. Rachel Mayer, Circle’s director of product management, noted:

“This transition comes at a time when Circle is launching new platform services and products for businesses around the world…”

The Bigger Picture

This acquisition comes as Circle is tightening its focus on the USDC stablecoin and expanding its suite of commercial services. Because let’s be honest, stablecoins are all the rage—like avocado toast in the brunch scene. A Circle spokesperson elaborated:

“We are ramping up new products to take advantage of this and help usher in more mainstream use cases for cryptocurrency.”

Past Moves and Future Plans

Circle’s move to sell certain assets is part of a series of strategic shifts. Just last year, they sold their over-the-counter trading desk to Kraken and sold the Poloniex exchange. You would think they’ve got a knack for decluttering their portfolio. With so many changes, one might wonder if Circle is doing a little spring cleaning—or perhaps, a full-blown purge.

The Bottom Line

As cryptocurrency continues its rollercoaster ride, Circle’s decisions indicate a desire to embrace the stable side of things, focusing on USDC and commercial adoption. With partnerships like these unfolding, it’s clear that the crypto landscape isn’t just about buying low and selling high; it’s also about strategic moves that may just put the fun back in fundamental.