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Circle has signed a definitive agreement to sell its Circle Invest app which was launched in March 2018 to crypto brokerage Voyager (for a 4% ownership stake). This comes on the heels of the former crypto powerhouse selling its OTC trading operation to Kraken, as it looks to focus its effort on building out the USDC stablecoin business.
Circle is planning to offer a crypto banking platform-as-a-service to firms that need to interact with legacy financial systems, Allaire told The Block at the time. These services could include crypto custody, risk and identity management and compliance management, among others. "This transition comes at a time when Circle is launching new platform services and products for businesses around the world to help them bring the benefits of stablecoins into their products and grow global commerce in new and innovative ways," Rachel Mayer, director of product management at Circle, said in today's statement.
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