Circle's Poloniex Crypto Exchange Launches New Mobile App, Services and Infrastructure Improvements
Poloniex has recently decided to announce that a new mobile app would be launched for the platform on Android and iOS. The app will be available in a total of nine languages and will be designed for a great user experience. Clients using the new Poloniex app will be able to get a better mobile-based identity verification process that will be more secure, too.
The Main Updates
The company affirms that it has upgraded Poloniex in many aspects that helped it to experience a tremendous increase in quality. The company was acquired as soon as a dramatic growth had just happened, so many users were facing severe issues with the quality of the services because there was simply too many people trading.
According to Circle, the main improvements that have been made since then are mainly reducing the backlog of support tickets by 97% with a goal of solving them all until the end of 2018 and other features. To solve the tickets, the company had to make significant technical improvements over its structure.
Circle hsd also liberated $12 million USD in funds back to the customers’ wallets, invested in Customer Support and solved about 80% of new inquiries always in the same day and bolstered the crypto asset storage and wallet infrastructure of the company, which was important to increase the reliability of deposits and withdrawals.
The company has also taken important steps for regulatory compliance and has removed margin trading and lending products for US-based customers as part of a bigger effort to stay on the good side of the regulators.
Poloniex has also rebuilt from scratch its identity verification process and has decided to use a much more seamless way to verify IDs.
Listings and Assets
Another important feature is that the company was able to list some high quality projects into the exchange. The focus of both companies is more on quality than quantity, so they focused on discovering which were the best choices that they could do while operating inside the law’s boundaries.
One of the things that the company did was to create the Circle Asset Framework, which was a way to provide that developers and the ecosystem had a clear articulation of criteria to apply to listings. You can visit the Circle Asset Framework here.
Poloniex has listed six new assets recently, including EOS, SNT, KNC, BAT, LOOM and QUM and added USDC, a new fiat stable coin. 18 assets were also delisted for not meeting the new criteria and the company also improved the API.
With Circle’s USDC, which can be bought com Circle’s official site, users can send money via bank wires from 40 countries in order to open up a direct fiat connectivity and experience the service better.
The Future of Poloniex
The company has also used the post to talk about the future of the exchange. Poloniex is anchored on the belief that tokenized assets have to take a larger role in the economy, so the company acquired SeedInvest to build a multi-sided marketplace for businesses (and, eventually, individuals) that want to tokenize assets and financial contracts.
Also, the company has affirmed that it will continue to focus on the consumer experience and that it will add more features to the system over time as a way to always ensure that the clients will have the best possible features available when using Poloniex.