Circle Invest app adds Monero support

Circle Internet Financial adds Monero support for their cryptocurrency trading app Circle Invest
08 May 2018   1710

Circle Internet Financial, a fintech startup backed by venture capital from Goldman Sachs, announced that they added Monero (XMR) support to their zero-commission cryptocurrency investment app Circle Invest.

Best known for their peer-to-peer payment app Circle Pay, Circle Internet Financial announced in March 108 that they are launching a new application for zero-commission cryptocurrency trading, called Circle Invest. While available strictly in the United States, the app has already gathered quite a large audiency by supporting from the start five most popular cryptocurrencies: Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic. A little later Circle added Zcash (ZEC) support.

And from now on they support for the most popular privacy-oriented cryptocurrency – Monero. The news were released on Circle's official blog:

Last week, we welcomed Zcash to the coin family on Circle Invest. Today, we continue to grow our coin collection by supporting Monero as our new listed crypto asset. This brings our investable crypto assets to a total of 7 coins, making Circle Invest one of the only platforms you can invest instantly and seamlessly in the widest breadth of coins by using your bank account.
Rachel Mayer, Circle Senior Product Manager

While marketed as a zero-commission trading app, Circle Invest still gets its revenue from transactions by having a buy-sell price spread of 1.5-2%.

At the moment of press, these are main XMR market parameters:

  • Average price $228.26
  • Market cap $3,654,260,500
  • 24h volume $40,022,200

BitBay ot Delist Monero

Exchange has to comply with “market standards” and the fight against money laundering
26 November 2019   273

BitBay cryptocurrency exchange announced the termination of support for the Monero cryptocurrency. The platform explained the decision by the need to comply with “market standards” and the fight against money laundering.

Acceptance of deposits at the XMR exchange will stop on November 29, trading will be stopped on February 19, 2020. In addition, due to the Monero network hard fork planned for November 30, the withdrawal of XMR will not be possible from November 29 to December 5.

Users are asked to finally withdraw funds by May 20 of next year.

Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a subject to end of transaction support. The decision was made to block the possibility of money laundering and inflow from external networks. Monero (and other cryptocurrencies with this specification) has been already delisted on other fiat-crypto exchanges for the same reason. As a licenced exchange, BitBay has to follow the market standards.
 

BitBay

 As you can see, BitBay named Monero's anonymity as the reason for delisting.