Subsidiary of Goldman Sachs Acquires Poloniex Crypto Exchange

Circle Internet Financial Ltd., a closely held mobile-payments firm backed by Goldman Sachs Group Inc., recently announced its intention to acquire Poloniex, which is the 13th/14th largest digital-token exchange (depending upon crypto exchange data). Fortune magazine sized the purchase at approximately $400 MM -- not bad for a crypto exchange founded in January 2014.

Circle developed a mobile phone app that allows people to make instant money transfers, very similar to apps such as Venmo. The company also has a trading operation that handles about $2B in monthly cryptocurrency trading volume with customers that include large institutional buyers and sellers. Now Circle is also exploring development and testing of a mobile app that will facilitate investment in crypto assets, essentially "securitizing" crypto -- a game changer.

Circle has its eyes on leveraging he Poloniex platform, which is currently available in more than 100 countries, and scaling it further. The company plans to increase its token listings, and explore the fiat connectivity to the dollar, euro and pound. This move by Circle, and Goldman, is transformative in the space as the goal is to create multidimentional distributed marketplace that can host a wide variety of tokens pegged to a host of commodity assets, including 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 strap in for the ride as another innovative game changer comes to the cryptcommerce community of the here and NOW and of the future.