In May, the cryptocurrency start-up Circle attracted 30% more institutional investors than in April. The company’s performance has increased despite the fact that the rate of bitcoin for the same period fell by about 20%.
As the company’s CEO Jeremy Allaire said, Circle also recorded a 15-fold increase in the number of transactions compared to the same period last year.
According to him, starting from this week all trading operations on the platform will be automated.
“Large institutional investors do not work through telephone brokers, they communicate via an electronic interface. A new way to make deals is faster and more flexible,” Jeremy Allaire said.
We note that the monthly trading on the platform exceeds $2 billion, while the minimum amount of the deal is at least $250,000.
Earlier in May Circle closed the next round of financing for the E-series, headed by the manufacturer of Bitmain mining equipment. Thanks to the collected investments of $110 million, the company’s capitalization came close to $3 billion.
In June Circle announced its intention to obtain a banking license at the federal level in the United States.