Circle Sells its OTC Desk to Kraken
Main page News, Cryptocurrency Exchanges, Stablecoins

Cryptocurrency exchange Kraken has just acquired Circle's OVC desk, the trading platform has announced through its official blog.

The exchange says it has bought "one of the most recognized OTC desks in crypto."

Circle co-founders Sean Neville and Jeremy Allaire have confirmed the sale:

"We have known and admired Jesse and his team at Kraken for many years, and we have every confidence and expectation that Circle Trade customers and partners will continue to find best-in-class OTC liquidity service and responsiveness through Kraken going forward. Circle Trade represents an enormous success for the industry as well as for Circle, and we’re excited to see Kraken grow it further."

The exchange co-founders have said Kraken has decided to acquire Circle's OTC desk in order to focus on its stablecoin USD Coin.

A few weeks ago it was known Circle had laid off 10 of its employees.

iHodl reported in October that Circle and Poloniex had decided to separate their ways. As a result, Poloniex became a new independent international company.

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