Circle Launches Crypto App For Investors
The firm hinted in past statements that they would launch such an app aimed at investors after the addition of a Trigger Finance. Their app is currently available in 46 US states.
The app was released in 46 states, excluding Hawaii, Wyoming, Minnesota and New York. But in an email sent to their users, the company plans on releasing the app in New York also. Circle has been one of the very few companies that managed to receive a Bitlicense, which is known for the strict regulations it imposes on companies.
The app charges no commissions, using instead as payment a sum between the buy and sell price, which will constitute an average of 1%, depending on what the market prices are at that time. The app also has functions for a variety of digital coins. It lists Ethereum, Bitcoin cash, Litecoin, Bitcoin, and XRP as being registered on the app, according to a screenshot. For the time being, XRP is not not listed on the app.
The app offers offline storage, privacy protection, and a two-step-verification process to enhance user security. It will not include any custodial accounts and liquidity. It is very probably that the acquisition of Trigger led to the development of this application.
On March 6th, users reportedly received invitations from google regarding the launch. “I received my invitation the next day, at which time google play indicated that roughly 100 users had downloaded the Android version of the App.” The simple user interface had overall portfolio tracking along with modules for each cryptocurrency in particular.
Trigger, a mobile investment firm, was used by thousands of investors that came from the retail industry, to follow U.S equities, commodities, and cryptocurrencies. Circle said that due to its usage in crypto assets and its employment of public blockchains as payment rails- as well as its merger with Trigger, will advantage their infrastructure and trading services in the form of new mobile products dedicate to individual retail investors.