Circle Opens Crypto Investment App To 46 US States, Leverages BitLicense To Enter New York
P2P payments technology company Circle announced that they rolled out the latest addition to its “family” — the cryptocurrency investment app Circle Invest — to most of the US on Tuesday, March 13.
In a blog post and email sent to customers, Circle, which is one of a handful of businesses to have received a New York BitLicense, confirmed its crypto investment platform would be available in “early access” form to US citizens in 46 states.
Minnesota, Wyoming and Hawaii remain excluded due to regulatory red tape, while New York will gain access “very soon”, the company said.
The unveiling follows a limited test phase for Circle Invest, which offers notionally commission-free trading of Bitcoin and several altcoins while altering buy and sell prices up to 2% in order to generate revenue.
Circle has sought to make fresh inroads into cryptocurrency this year. In February, news broke that the company had acquired major exchange Poloniex in a $400 mln deal backed by IDG Capital.
“We’re eager to hear feedback on this early access version of Invest from everyone — from newcomers and from crypto experts alike,” Circle describes the new Invest app.
The product forms one of a suite of products Circle CEO Jeremy Allaire referred to as its “family” Feb. 27, a day after the Poloniex deal – together with wholesale over-the-counter trading platform CircleTrade and payments app Circle Pay.