The Circle payment company, owned by Goldman Sachs has recently announced the buying of Poloniex. If you are wondering why would they buy it, Goldman Sachs funded circle is made of by 3 parts: circle pay for fiat transfer, circle trade as a liquidity provider of cryptocurrencies and the upcoming circle invest app that will retail consumers to invest in crypto markets.
Goldman Sachs owning this project indicates the company might be moving towards the crypto space. They obviously have spoken before about trading crypto, but nothing serious happened about that yet.
This is a very interesting acquisition and we are probably going to see more like this moving forward as banks and old structures are trying to get their hands on some of the power in crypto.
This purchase by Goldman Sachs comes as an measure to enforce the company’s position regarding cryptocurrencies. Circle, as announced, has extended their commitment to a new vision to finance world by buying Poloniex, one of the biggest cryptocurrency exchanges. Circle operates payments by using blockchain in a mobile app. Poloniex is currently one of the most popular companies for virtual coins exchange worldwide.