Circle (company)

Circle Internet Financial Limited
Headquarters Boston, Massachusetts, United States
Founder(s) Jeremy Allaire, Sean Neville
Website www.circle.com
Launched October 2013

Circle is a peer-to-peer payments technology company utilizing bitcoin and traditional fiat currencies.[1] Founded by Jeremy Allaire and Sean Neville in October 2013, Circle’s mobile payment platform, Circle Pay, allows users to hold, send, and receive traditional fiat currencies - similar to payment app Venmo.[2][3] Circle Pay can also operate as a bitcoin wallet service to buy and sell bitcoins.[4][5][6] In September 2015, Circle received the first BitLicense issued from the New York State Department of Financial Services.[7][8][9] In April 2016, the British government approved the first virtual currency licensure to Circle.[10] Circle is headquartered in Boston, Massachusetts.[11]

Funding

The company received US$76 million in venture capital from 3 rounds of investments from 2013 to 2015, including US$50 million led by Goldman Sachs.[12][13][14] In April 2015 The New York Times reporter Nathaniel Popper wrote that the Goldman Sachs investment "should help solidify Bitcoin’s reputation as a technology that serious financial firms can work with."[15]

Services and Features

As per end 2015 a circle account can be funded in USD via "US-issued Visa and MasterCard credit and debit cards", US bank accounts, as well as directly via bitcoin.[16] For non-US users funding via debit/credit cards is still experimental and additional currency conversion fees might apply.[17] According to the Circle President, the initial consumer service will be offered completely free of charge, while passing on credit card interchange fees. The Circle conversion rate is not pegged to a specific exchange and may fluctuate around other bitcoin exchange rates but according to the Circle President "it’s simply never a revenue generator".[18] Britain's Financial Conduct Authority granted Circle an electronic money license in April of 2016, expanding the use of Circle's services to the United Kingdom and broadening Circle's relationship with UK bank Barclays.[19][20]

See also

References

  1. ↑ "Circle | Circle Pay App". www.circle.com. Retrieved 2016-03-21.
  2. ↑ "Circle brings social payments app to UK". CoinReport. Retrieved 2016-04-13.
  3. ↑ "Circle’s bitcoin app now lets you send cash". www.betaboston.com. Retrieved 2016-04-13.
  4. ↑ Alba, Davey (April 30, 2015). "This Digital Wallet Could Finally Get You Into Bitcoin". WIRED.
  5. ↑ Alspach, Kyle (March 27, 2014). "Digital currency firm gets $17m in financing". The Boston Globe. Retrieved April 18, 2014.
  6. ↑ Swisher, Kara (March 26, 2014). "Still More Bitcoin Investing: Circle Internet Financial Raises $17 Million from Oak, Others". re/code. Retrieved April 18, 2014.
  7. ↑ Vigna, Paul (September 22, 2015). "Moneybeat: Circle Gets First 'BitLicense,' Releases CirclePay, New Service". Wall Street Journal.
  8. ↑ Woodward, Curt (September 22, 2015). "Circle gets first bitcoin license from New York regulators". betaboston.com.
  9. ↑ NYDFS (September 22, 2015). "NYDFS ANNOUNCES APPROVAL OF FIRST BITLICENSE APPLICATION FROM A VIRTUAL CURRENCY FIRM". ny.gov (press release).
  10. ↑ Popper, Nathaniel (2016-04-06). "Bitcoin Start-Up Gets an Electronic Money License in Britain". The New York Times. ISSN 0362-4331. Retrieved 2016-04-06.
  11. ↑ "Circle Internet Financial, Inc.: Private Company Information - Businessweek". www.bloomberg.com. Retrieved 2016-04-13.
  12. ↑ Alden, William (March 26, 2014). "Dealbook: Startup Unveils Bitcoin Payments Product". The New York Times. Retrieved April 18, 2014.
  13. ↑ Schroeder, Stan (April 30, 2015). "Bitcoin startup Circle raises $50 million from Goldman Sachs and IDG". Mashable.
  14. ↑ Casey, Michael J. (April 30, 2015). "Goldman a Lead Investor in Funding Round for Bitcoin Startup Circle". Wall Street Journal.
  15. ↑ Popper, Nathaniel (April 30, 2015). "Dealbook: Goldman and IDG Put $50 Million to Work in a Bitcoin Company". The New York Times.
  16. ↑ "Which debit and credit cards can I use?". Circle FAQ. Retrieved 15 December 2015.
  17. ↑ "How is Circle different for non-US customers?". Circle FAQ. Retrieved 15 December 2015.
  18. ↑ Neville, PS. "Circle Debut Questions". medium.com. Retrieved 15 December 2015.
  19. ↑ Popper, Nathaniel (2016-04-06). "Bitcoin Start-Up Gets an Electronic Money License in Britain". The New York Times. ISSN 0362-4331. Retrieved 2016-04-06.
  20. ↑ "Circle Internet Financial links with Barclays to launch sterling app | News.Markets". News.Markets. Retrieved 2016-04-06.

External links

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