FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Circle Cedes Bitcoin Trading to Coinbase, Expands Messaging Functions

Philip RyanbyPhilip Ryan
December 7, 2016
in Payments
Reading Time: 2 mins read
0
Share on Facebook

circle-to-coinbaseStill want to buy some bitcoin? It’ll currently cost you about $764, and your options for places to do so are dwindling.

The currency exchange service Circle will no longer facilitate the buying and selling of bitcoins, the company announced in a blogpost yesterday. Instead, those functions will be handled by former rival and now “preferred partner” Coinbase, which recently evolved from a bitcoin wallet to full-fledged bitcoin exchange.

The news comes just days after the OCC said it would grant limited licenses to fintech companies to function as regulated banking institutions. Circle CEO Jeremy Allaire commented positively on the ruling in New York Times.

circlepay2Circle also announced the launch of a blockchain protocol called Spark, “to facilitate trusted, compliant money transfers between participating individuals and institutions over the Bitcoin network,” according to the release. Spark is further described in this way:

… a set of protocol additions that provides a way for digital wallets to exchange value using blockchains, including Bitcoin, as settlement layers. There are many use cases for the technology, but the initial focus is on connecting digital wallets around the world while ensuring that full KYC/AML and compliance requirements can be met, and presenting a seamless experience that reflects local currency exchange rates and conversion rule contracts.

Messaging is increasing in importance for Circle, which has long emphasized the social aspects of payments. From the release:

The Circle Pay apps are now organized around people instead of solely by transactions. All payments to and from an individual exist in an ongoing conversation with that person, similar to popular messaging apps such as WeChat, Messenger and WhatsApp. This mirrors our support for Circle social payments natively inside of Apple iMessage on iOS 10.

Circle has been moving away from being a “bitcoin app” for a long time — today it has completed that journey. Going forward, the company writes, “Circle will continue to be a leading participant in the digital currency markets and ecosystem, with our focus on getting more digital wallets to adopt public blockchains as open transaction settlement networks.”

Cirlce has raised $136 million, according to Crunchbase, and operates in the U.S., some European countries, China, and as of yesterday;s announcement, South Korea and the Philippines.

Tags: BitcoinBlockchainBlockchainCircleCoinbasestartups
Previous Post

China is the Global Center for Fintech Innovation, says Report

Next Post

Square Virtual Cards Now Work with Apple Pay

Related Posts

RBC building in Toronto
Payments

Francisco to buy payments firm Moneris from RBC, BMO for $1.4B

August 11, 2026
Interior of a Cloudflare office building with signage
Payments

Nonhuman traffic surpasses human traffic on Cloudflare network

August 7, 2026
block cash app
Payments

Block ships more than 130 features in H1 2026, up 3X YoY because of AI

August 6, 2026
Next Post

Square Virtual Cards Now Work with Apple Pay

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

FinAi Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

Connect

twitter linkedin podcast podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account