[ad_1]
news
The finance company Circle claims that its over the counter (OTC) cryptocurrency trading bank traded a notional volume of $ 24 billion last year. Reportedly, the Boston company's Circle Trade study executed over 10,000 cryptocurrency agreements among 600 exclusive counterparts in 2018.
Read also: New Full Node client & # 39; Bitcoin Verde & # 39; becomes part of the BCH ecosystem
Despite the Crypto Bear Market in 2018, Circle sees significant growth
<img class = "alignright wp-image-270489″ title=”The Cryptocurrency OTC desk in Circle traded more than $ 24 billion in 2018″ src=”https://news.bitcoin.com/wp-content/uploads/2019/01/offer.png” alt=”Circle's OTC Cryptocurrency counter traded more than $ 24 billion in 2018 "width =" 176 "height =" 176 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01/ offer.png 250w, https://news.bitcoin.com/wp-content/uploads/2019/01/offer-150×150.png 150w "sizes =" (maximum width: 176px) 100vw, 176px”/>Last year, digital asset company Circle made many behind-the-scenes moves inside the cryptocurrency economy. In a blog post written on January 3rd, Circle explained how it has grown significantly over the last 12 months and now offers services to over 8 million customers in 195 different countries. In 2018, Circle claims to have processed more than 200 million transactions of digital assets, adding over $ 75 billion in value. The Boston-based company says customers came from all over the world, with 30% of the volume coming from the United States. The following are the EU and the United Kingdom (24%), Asia (24%) and the Middle East, Africa and Latin America (21%).
In addition, Circle discussed the acquisition of the Poloniex cryptocurrency trading platform and pointed out that exchange services have improved a lot over the last 12 months. "Through the expansion of support and engineering operations, we have helped customers by reducing nearly 200,000 open tickets at the start of 2018 to less than 1,000 by the end of the year," said Circle. Circle also noted that Poloniex has now improved risk and compliance operations that allow the company to get on board customers within minutes of signing up. The parent company has specified that Poloniex would see more UX improvements this year and the "continuous launch of new markets".
Over 10,000 OTC swaps worth over $ 24 billion last year
<img class = "alignright wp-image-270501 size-medium” title=”The Cryptocurrency OTC desk in Circle traded more than $ 24 billion in 2018″ src=”https://news.bitcoin.com/wp-content/uploads/2019/01/OTC-300×220.jpg” alt=”The Cryptocurrency OTC desk in Circle traded more than $ 24 billion in 2018 "width =" 300 "height =" 220 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01 /OTC-300×220.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2019/01/OTC-768×563.jpg 768w, https://news.bitcoin.com/wp-content/uploads / 2019/01 / OTC -1024×750.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2019/01/OTC-80×60.jpg 80w, https://news.bitcoin.com/wp -content / uploads / 2019 /01/OTC-696×510.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/OTC-1392×1020.jpg 1392w, https: //news.bitcoin .com / wp-content /uploads/2019/01/OTC-1068×782.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2019/01/OTC-573×420.jpg 573w "sizes =" (maximum width: 300 px) 100vw, 300px”/>Circle retail investment services also saw growth last year, company founders Sean Neville and Jeremy Allaire explained. Over 30% of customers buy unique collections of digital resources, as the founders have noted. Over 30 percent of all purchases on Circle Invest are recurring and repeat purchases like these have doubled since last September. With the OTC operations of the company, even though the 2018 cryptic prices were extremely bearish, Circle's OTC counter was still expanding. Circle Trade has seen $ 24 billion in the notional OTC cryptocurrency, with 24-hour coverage in the United States, Europe and Asia. Using 36 different digital currencies, Circle Trade facilitated 10,000 OTC swaps between 600 different entities. The company has detailed that Circle's customers and partners include wealth managers, other OTC branches, family offices, people with high equity, endowments, token projects and exchanges.
The stablecoin flagship offer of the company, USDC, has seen "significant penetration" in 2018 and is now supported by 40 trading platforms. The stablecoin supported by Circle is also used by over 80 companies such as portfolios and other types of applications. Despite all the layoffs throughout the crypto economy, Circle's institutional sales team has grown 3-fold. The Circle 2018 report shows that the ecosystem is still alive and well, but the investment providers have somehow been oriented towards catering for institutional clients. There was a huge influx of OTC buyers and institutional clients in 2018. Many other large, currency-based digital companies such as Coinbase, Blockchain and Etoro have announced OTC banks to capture these types of customers.
What do you think of the development of Circle over $ 24 billion in the cript-based OTC volume last year? Let us know what you think of this topic in the comments section below.
Images via Shutterstock and Circle.
On Bitcoin.com there are a lot of free useful services. For example, you saw ours Tools page? You can also look up the exchange rate of a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And more.
