Circle’s CEO, Jeremy Allaire joined in on the latest trend of the Ask Me Anything (AMA) session on Reddit. Although AMA sessions are considered marketing stunts, Allaire highlighted the most recent workings of Circle and his confidence in cryptocurrency.
The key introductory highlights were the launch of Circle Invest, CENTRE Consortium and the launch of USDC stablecoin. The CEO also brought into light about plans of acquiring a crowdfunding platform for startups called SeedInvest.
Circle Trade which focuses on OTC trading for cryptocurrencies has executed 10,000 trades which was worth more than a whopping $24 billion.
Questions asked by the cryptocurrency community included Circle’s central mission. The CEO expanded on how Circle’s mission is to connect every person to an open financial system.
When speaking about regulatory problems, the CEO of Circle brought up SEC’s lack of defining digital assets. One thing to note is the reply about Monero’s regulatory rules. The chief compliance officer and head regulatory counsel for Circle, Robert Bench replied stating that Circle may use privacy coins for risk assessment of customers in the future.
Circle’s emergence from a fiat mobile payment platform in 2013 to receiving the BitLicense in 2015 proves that cryptocurrency is the future. Its facilities of reaching out to the unbanked are one of the most crucial points of the need for cryptocurrency given the high level of KYC/AMC required by banks these days.
The AMA has come at a time when not much is happening in the cryptocurrency markets. Circle being an important company in the crypto sphere, and it’s AMA bringing in positivity could help the confidence of crypto investors right now.
Image Source – Moon Catcher
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