Circle Internet Financial Ltd which is a consumer finance startup will recruit 100 people as it expands a newly acquired crypto exchange. The startup is backed by huge institutions which include Goldman Sachs Group Inc. and Baidu inc. CIFL is registered in Dublin and will begin as a mobile-payments platform with its main focus being on improving operations, technology at Poloneix and customer support. In order to grow its support in Asia Circle will hire 30-35 people adding to the already existing staff of about 10 people in Hong Kong and Mainland China.
The startup is also set to recruit teams in South Korea and Japan according to the company’s founder Jeremy Allaire. The company is expanding despite the regulation talk which has seen a major sell off of digital assets which lead to reduced Bitcoin value since mid –December. Allaire said that Circle Internet Financial Ltd will cooperate with authorities and flow all set rules as it continues its expansion globally.
According to Allaire:
“Our long-term goal is to ensure that every form of value on earth will become a crypto token. Will aim to offer more markets, more assets and we want to localize everything and also launch it in international markets. To ensure smooth flow we will also work with the most important regulators.”
Circle Internet Financial Ltd is having a great backing having received $140 million venture capital from several investors such as Goldman, Investment bank China International funds and also Baidu. For that reason the company does not plan to raise any additional capital at the moment and expects to be profitable from the start. Circle will offer a series of products and some of the products include: Circle pay which is a payment app, Circle trade which will provide market making services and Circle Invest which is a platform for investing in crypto assets.
Circle trade already handles more than $4 million per month and is planning to start supporting different crypto trades in Asian currencies. The main centers of interest will be Hong Kong and Singapore according to Jack C. Liu who is now the managing director of Circle.