Exchanges Round-Up: Circle Invest Adds Four Alts, Stockholm IT Announces Crypto Fund
In recent news pertaining to cryptocurrency exchanges, Circle Invest has added Eos, 0x, Stellar, and Qtum to its platform, Stockholm IT, a Frankfurt-listed company that has seen its share value drop over 99% since launch, has announced plans for a cryptocurrency fund, and Btse has launched its over-the-counter (OTC) trading platform.
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Circle Invest Adds Four Altcoins to Platform
Circle has announced that four alternative cryptocurrencies have been newly added to the company’s Circle Invest platform. The altcoins are Eos, 0x, Stellar, and Qtum.
Circle asserts that the cryptocurrencies were chosen “specifically based on their potential to contribute powerful infrastructure to the broader crypto ecosystem.”
The company also announced the launch of the “Explore” feature in the Circle Invest app. “Explore” is intended to “give contextual, relevant information on the various aspects of crypto” and “educate [Circle’s] customers and bring clarity to this fascinating, yet complex asset class.”
Stockholm IT Announces Plans for Crypto Fund
The Frankfurt-based company behind the Bytemine tokensale, Stockholm IT Ventures AB, has announced that it will launch a cryptocurrency-focused asset management service.
Stockholm IT is listed on the Deutsche Boerse stock exchange and has seen its stock plummet by over 99% from ˆ3 to approximately ˆ0.02 since listing in 2014.
Despite suffering such extreme losses to its share price, Stockholm IT is confident that it will be able to provide a return to investors – with Stockholm IT chief executive officer, Anthony Norman, “guarantee[ing]” investors a return of “1-1.5% per trading day” owing to the company’s “unique algorithm.”
Btse Launches OTC Crypto Exchange
Btse has announced the launch of its over-the-counter trading platform. According to a press release, the platform is “unique” through “offer[ing] multiple currencies through one book,” adding that “entities like the U.S. dollar, the euro, and the Japanese yen all share the same liquidity pool.“
Btse co-founder, Jack Li, stated: “Even though there has been some consolidation amongst the existing exchanges, the industry is still largely fragmented and localized. Our goal in offering a multi-currency platform looks to address some of these issues through the aggregation of liquidity.”
“Other exchanges that offer multiple books often struggle with liquidity in their secondary books. This innovation aims to resolve that issue. If a deposit is sent in a currency we do not yet support, it will automatically be covered at system rate,” Mr. Li added.
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