Circle Invest app adds Monero support

Circle Internet Financial adds Monero support for their cryptocurrency trading app Circle Invest
08 May 2018   1452

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

OKEx Korea to Delist Anonymous Coins Due to FATF

Monero, ZCash, DASH, Horizen and Super Bitcoin won't be supported starting from 10th of October
16 September 2019   153

The Korean division of the OKEx cryptocurrency exchange has announced the delisting of five anonymous coins, as they violate FATF standards.

On October 10, the site will stop supporting Monero, ZCash, DASH, Horizen and Super Bitcoin.

Recall that the FATF obliged the bitcoin exchange and other cryptocurrency service providers (VASPs) to follow AML and CFT procedures similar to traditional financial companies.

VASPs must exchange the personal data of participants in transactions and information about the balance of their wallets.

OKEx Korea emphasized that anonymous cryptocurrencies will not allow the exchange to comply with these rules.