Circle Internet to Acquire SeedInvest In Effort to Support New Crypto Projects
Circle to Acquire SeedInvest In Effort to Support Crypto Startups
One of the most valuable and reputable cryptocurrency marketplaces is Circle Internet Financial Ltd., though it is more commonly just known as Circle. In an announcement on October 5th, Circle said that they’ve come to an agreement with SeedInvest to acquire them into their own company. This crowdfunding firm works to help startups with the issuance of their own tokens and the ability to trade across platforms.
As big of an acquisition as this is, the actual terms have not been announced. Since the founding of SeedInvest in 2012, the company has been a support system for private companies as they raise money for their efforts online. Investors can go to the SeedInvest website, browse through a complete list of their opportunities, and check their eligibility for purchasing part of that product. The whole arrangement has primarily been performed with a broker-dealer, which is SI Securities LLC.
If this acquisition is approved by the regulators that govern it, there will be a new opportunity for these businesses and startups to raise funds in a different way – token sales. By allowing Circle to take this on, their team would bring in 30 new employees.
CEO Jeremy Allaire of Circle spoke about this collaboration and acquisition in an interview, saying:
“This was a company who had been at the forefront of collaborating with government to figure out how to make it possible to innovate in the way people raise capital. Crypto securities are going to become a major new category of securities that ultimately every business is going to adopt, just like every business has a website.”
Circle has been seemingly playing the victor for many companies lately. This new acquisition comes only a few months after Circle bought out Poloniex, which is a crypto exchange within the United States. At the time of this purchase, both Allaire and Sean Neville, the other co-founder of Circle wrote,
“We envision a robust multi-sided distributed marketplace that can host tokens which represent everything of value: physical goods, fundraising and equity, real estate, creative productions such as works of art, music and literature, service leases and time-based rentals, credit, futures, and more.”
So far, Circle hasn’t responded to requests from the media to comment further.