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Circle Adds Monero to Crypto Investment App

Blockchain startup Circle is adding the privacy-focused cryptocurrency monero to its Invest application, the company announced Monday.

Just one week after the payment platform announced it was adding zcash to its trading app, the company added monero, according to a blog post. As with the other tokens available on the app, users will be able to purchase or invest the cryptocurrency.

In addition to the privacy coins, Circle Invest offers bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin.

In the post, Invest senior product manager Rachel Mayer wrote:

“Last week, we welcomed zcash to the coin family on Circle Invest. Today, we continue to grow our coin collection by supporting monero as our new listed crypto asset. This brings our investable crypto assets to a total of 7 coins, making Circle Invest one of the only platforms you can invest instantly and seamlessly in the widest breadth of coins by using your bank account.”

Future updates will include information on “how we think about adding assets into our products” and more new features, the post concluded.

Although Circle distanced itself from its beginnings for a while, and began modeling itself as a mobile version of PayPal, the significant price rises at the end of last year took it back to its crypto roots.

In February of this year, Circle announced plans to buy the cryptocurrency exchange Poloniex in a deal reportedly worth over $400m, with plans to turn it into a fully regulated crypto exchange.

After starting life in 2013 as a Bitcoin wallet service, Circle received $140m in venture capital from four rounds of funding, including a $50m investment from the major American investment bank Goldman Sachs, which announced last Wednesday that it was planning to open a Bitcoin trading desk in the coming months.

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