Blockchain new venture Circle has released new information about the way it will choose cryptocurrencies for its trading and investment platforms.
The company, on Tuesday, posted its Asset Framework, giving a rough description of what factors are examined when assets tend to be included in the Poloniex cryptocurrency exchange, in addition to its Circle Invest and Circle Trade product lines.
These requirements include five distinct classes, which consist of the project’s fundamentals, the technology underpinning a token, the people behind a project, the business model employed and the available market, according to the document.
Circle stated, in a report, that “one of our main goals for Circle products like Poloniex, Invest and Trade is to supply our consumers with accessibility to revolutionary new projects that fuel the industry.”
Every single requirement comes with a number of probable questions that Circle’s evaluators would take into account when evaluating a venture. Nevertheless, the firm mentioned that “this platform is not designed to be an extensive register of specifications that projects must meet,” explaining that “this platform is designed to help us prioritize new listings based on the opportunity they present for Poloniex consumers.”
Circle also posted an Asset Listing Form, in which any project applying to be outlined ought to fill out as a first step. Notably, the firm highlighted that it “will not acknowledge any kind of payment to list an asset.”
At the moment, Circle Invest currently provides bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, zcash and monero to its consumers.
The move comes just weeks after Circle supposedly started looking for a banking permit in the United States.
The permit, if authorized, will allow Circle’s numerous platforms to buy and sell cryptocurrency tokens that are presently regarded as securities. It is uncertain whether or when Circle will obtain the permit.