Circle Trade

Circle Trade is an overall trading desk for large exchanges and cryptocurrency investors. The platform fosters liquidity between a few fiat currencies and cryptocurrencies. Circle trade manages $2 billion in monthly transactions and has generated over $60 million in revenue over a three months period.

The platform is one of the largest liquidity providers of digital assets and cryptocurrency globally. The platform actively makes markets on nearly all the global major exchanges and provide significant scale in Over the Counter Trading (OTC) with large institutional buyers and sellers of cryptocurrencies.

How Circle Trade Works

The Boston-based Circle Financial that announced at the end of 2016 that it would stop managing direct bitcoin services for its consumers owns the Circle Trade platform. During the announcement, the company hinted that it would deal with OTC exchanges between large financial institutions using circle trade.

Circle Financial further pointed that it would eliminate the Circles app direct bitcoin sales and purchases. Although the company does not allow the trading of cryptocurrency in their apps, the company boasts of being the second largest crypto trader in the world through market making on all the major exchanges in the world.

The company through coin trade provides OTC liquidity services to institutions. The OTC services also allow the company to trade actively and provide significant market liquidity for cryptocurrencies such as ether, bitcoin, xrp, and increasing nascent tokens and ICOs.

Circle Trade Powers Circle Pay

Circle trade powers circle pay that is a cheap platform to send and receive money between countries. Circle pay does not charge fees to send money, and its conversion rates are almost similar to the mid-market rate. When using circle pay, you have to open an account, provide your phone number, currency and bank addresses. From there you will get an alert every time someone sends you money. You can tap on the transaction to see the details of the sender.

Sending money is also equally easy. You tap the send button, and you will be asked if the app can access your contacts. The app will find anyone who has a circle account or you can search in your contacts to select the one you want to send money to. You can select the amount you want to send in your local currency and add a message and then send.

If you want to request the money that you have received, you tap on banks and then cash out. You will be given a verification code via text that you will have to enter in the app; you will then receive a confirmation of the transfer. In case you want to use a debit card, your funds will be debited instantly. In case of a bank account, the transfer will take one to four days.

It seems that circle financial although not directly buying and selling cryptocurrencies from its users, it is involved in the cryptocurrency trade behind the scenes. The circle trade platform is working behind the scenes with decentralized currencies. If their figures are anything to go by, the growth of the platform has been significant.

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