After Circle, the peer 2 peer payment tech company acquired Poloniex in February 2018, launched an OTC trading platform CircleTrade and a payment application CirclePay, they also launched CircleInvest, an investment platform. CircleInvest is currently available in 46 USA's states, excluding Minnesota, Wyoming and Hawaii due to certain regulation issues, and they intend to get a New York BitLicense soon as well. CircleInvest is currently in its testing phase so there's no commission on trades of bitcoin and a few of their other available altcoins. They make their money on the split between buy and sell prices of cryptocurrencies.
One of the biggest and most well known exchanges – Coinbase – recently acquired an FCA License for e-money in the UK. They opened accounts in Barclay's and thus gained access to UK's Faster Payment Scheme, a foundational payment infrastructure which will allow users faster and easier money deposits and withdrawals. This is the first meaningful partnership between a UK bank and a cryptocurrency exchange because many banks flat out refuse to work with cryptocurrencies due to their alleged anonymity and potential use for illegal actions. Naturally, the license only applies to fiat in Coinbase's control, not cryptocurrencies, but faster payments and deposits can be extremely important in the volatile crypto ecosystem.
Robinhood, the bonds trading app, has recently expanded its services to cryptocurrencies. Robinhood will soon allow buying and selling of bitcoin and ether and will let users follow the price of 14 other altcoins. They attracted a large crowd by promising no-commission trading. They make money on interest, like banks. This is how Robinhood is competing with Coinbase, which still have enormous entry and exit commission fees.
Another new platform for easing cryptocurrency adoption is Coinvendor, which recently joined the Bitfalls family of apps. It's still in its test version and supporting around 20 cryptocurrencies and altcoins, whereas the full version will support over 70 currencies. The main attribute of this platform is extreme simplicity in purchasing altcoins directly to a desired address – no risk, no keeping them on a third party platform, and no buying bitcoin or ether first to enter the marketplace, which is what the current standard on exchanges is. This is a safer, faster, more private, and cheaper (no transfer fees) way to obtain your desired coin.
These efforts are, despite hardcore attacks from media platforms like Google, Facebook, and Twitter (blocking all cryptocurrency related ads) making cryptocurrencies much more approachable to “civilians” and mass adoption. Right now it is all admittedly a tug of war with big corporations and banking interests, but things are definitely starting to look more positive in terms of mainstream crypto.
If you found this article useful or interesting, please consider donating to keep our operation running.