Cryptocurrency startup Circle is venturing deeper into crypto trading. The Boston-based company is now ready to buy equity crowdfunding firm SeedInvest.If approved by regulators, the move could allow Circle to help match investors with fledgling companies trying to raise money via initial coin offerings (ICOs). It could also allow Circle to offer its own customers a wider selection of coins to trade. Circle made the announcement today, October 5, 2018. Terms of the deal were not disclosed.“This acquisition will accelerate our strategy of delivering a token marketplace that enables businesses and individuals to raise capital and interact with investors using open crypto rails and infrastructure,” Circle states.SeedInvest, founded in 2012, is an online platform that links individuals with vetted startups. The company is selective: It says it only accepts about 1 percent of the startups that apply for a listing on its platform. Individuals who sign up on the platform can browse through that list and then, depending on their eligibility, invest in a company. All securities trades on SeedInvest are handled by SI Securities, a registered broker-dealer.It is easy to see why this deal is attractive to Circle. Most of Circle’s profits currently come directly from token trades. The company has an over-the-counter crypto desk that handles roughly $4 billion in trades a month, according to Circle CEO Jeremy Allaire...
