By
Steve Muchoki
April 17th, 2024
Circle has launched its cryptocurrency platform, allowing customers to deposit and send bitcoin.
US-based bitcoin startup, Circle Internet Financial, announced on Monday the launch of its digital currency platform following months of beta testing.
Circle stated: “When we set out to build Circle, we imagined a new kind of Internet-centric consumer financial service, one that the average person would find enjoyable and powerful, and which built on the promises of bitcoin – instant, global, secure, free transactions.”
The company officially presents the service at Sibos 2014, which is taking place at the Boston Convention & Exhibition Center within September 29 – October 2. Circle founder and CEO Jeremy Allaire will gave his speech on a number of digital currency-focused panels.
In its blog post, the firm noted it will provide 100% insurance for deposits. “Our insurance broker is Marsh, one of the largest insurance brokers in the world. The underwriters for this insurance are all highly-rated. Insurance on bitcoin is a new market, and we’re proud to be a market maker in establishing this valuable service to users of digital assets,” the company stated.
Circle will not be the only bitcoin company that offers insurance for customer holdings. Last month, Coinbase announced its insurance broker and Great American Insurance Group recently started offering crime insurance to digital currency firms.
The new Circle platform will be available in seven languages, including Chinese, Japanese, Spanish, French, German, Portuguese and English.
The language support will allow the company to expand its services to “40% of the world’s population”. This demonstrates the firm’s commitment to expand globally and Circle will continue adding new languages to the system. “It’s a good start, but we plan to add far more capabilities for international customers over time,” Circle said.
“We wanted to make sure from an operational perspective that we are ready”, Allaire said. “But once we launch we expect to grow pretty rapidly.”
Unlike other bitcoin companies, Circle will develop its business all over the world, instead of concentrating on national market.
In May, Circle CEO Allaire and co-founder and CTO Sean Neville posted a blog, discussing how to bring digital currency to mainstream users. It stated: “We’re an Internet-based consumer finance company. We believe that digital money platforms and associated consumer products and services will revolutionize the way the world uses money. We want to help people store and use digital money anywhere in the world.”
Circle also announced that it plans to release its iOS and Android apps soon. They are currently in beta version.