Company Circle acquires Poloniex

When the rumor of Circle buying Poloniex was released by a little-known site called Modern Consensus, it was branded as false news. The story turned out to be accurate.

"Circle and Poloniex accelerate the emerging economy of tokens", highlights the headline of the press release issued by Circle on February 26 at 8 a.m. New York time.Circle has already invested in crypto through its Circle Trade application, but Poloniex connects it to the mainstream of the cryptographic ecosystem.

There is much talk of tokens in the Circle press release, including the phrase "an open global token market." It is evident that Circle has big plans for Poloniex, and will adopt a hand-to-hand approach in trying to promulgate its vision for the exchange, which will soon be revitalized.

These plans go beyond disabling their "trollbox", which was one of the defining characteristics of Poloniex. Circle talks about improving the "customer experience", something in which Poloniex is deficient, as well as being in charge of "risks, compliance and technical operations".

Old platform, fresh money

In cryptographic terms, Poloniex is an OG ("old gangster"), which has existed since 2014. He managed to avoid succumbing to the main hacks at that time, which is already an achievement per se.

"Any update we make in the course of this transition will be transparent, and will focus on strengthening the user experience (UX), platform performance and security," explains Poloniex.

"The funds of our users will remain secure and without interruptions in the functionality of the account." The statement ends by talking about "options for fiduciary connectivity in the main currencies of the world, and access to innovative token projects that extend cryptocurrency protocols to new use cases".