Circle X Exchange Will Be More Than Another Coinbase

From Coindesk

In the not-so-distant future, VC-backed startup Circle has plans to create a type of crypto cantina.
The news comes following Circle's buyout of cryptocurrency exchange Poloniex, announced Feb. 26. Notably, the acquisition is one of, if not the largest, acquisitions in the industry to date.

Circle president Sean Neville told CoinDesk:

"Rather than seeing a single Star Wars-type token that is good for everything across the galaxy, we'll see a proliferation of tokens that have different functions."

To that end, Neville believes the new service, formally called Circle Poloniex for now, will offer an entirely new kind of exchange, one that gives users access to a whole host of cryptocurrencies and crypto tokens.

According to Circle executives, the acquisition is a win-win for both companies.

Circle customers will once again have the ability to buy and sell bitcoin (a service the company shut down in December 2016) and many other cryptocurrencies. And Poloniex's customers will get access to Circle's well-oiled and licensed business machinery, which has been developed over the past five years with $140 million in venture capital.

The benefits for Poloniex will likely be huge since the exchange's fast-paced business has slowed somewhat in the past several months in the face of an onslaught of complaints about its service.

Read more: https://www.coindesk.com/circle-x-crypto-exchange-will-coinbase-challenger/

I'm excited about this purchase and hopefully the robust product to come.