The Circle platform is going to be making some major waves in the crypto space over the next 3 weeks. It all started on Monday, April 30, when Circle disclosed that it is adding Zcash (ZEC) to its list of offerings for its investment app, dubbed the Circle Invest platform.
Circle Adds Zcash to Circle Invest
On Monday, Circle announced in a blog post that it will be adding Zcash (ZEC), a cryptocurrency that is focused primarily on privacy, to its investment app. The Circle Invest app was expanded last month – it is now offered in almost every state in the U.S. – and this is the first of many announcements coming over course of the next couple weeks. Now, users will be able to purchase and invest in Zcash (ZEC). The token will be joining the likes of Bitcoin (BTC) and Ethereum (ETH). More information is forecasted to come out soon. Specifically, regarding how Circle wants to add assets into their products. It is also worth mentioning that the tokens on the platform are required to be consistent with Circle’s regulatory licensure.
As of right now, it is unclear as to why Zcash (ZEC) was chosen to be featured on Circle Invest’s list of offerings. However, the Circle Invest senior product manager, Rachel Mayer, did state that it has been looking for the best crypto assets for its customers, so that gives a bit of an indication about how Circle feels about Zcash (ZEC). Despite the news, ZEC is still seeing red today. The coin is currently down 0.84% in the past twenty-four hours, selling for $289.90.
The Circle Invest Takeaway
It will be interesting to see what other announcements Circle makes over the next couple of weeks. Will another token be added to its list of offerings, joining the ranks of Zcash (ZEC) and Bitcoin (BTC)? Further, I think it will be interesting to see whether Circle Invest announces that they are finally making the investment app available in Wyoming, Minnesota, and Hawaii.
The platform itself appears to be excited about adding Zcash (ZEC). It tweeted its excitement early on in the day. What do you think? Are you excited about Zcash joining the Circle Invest family?
Featured Image: twitter