Circle Internet Financial Ltd., one of the most heavily-funded digital currency startups, will no longer offer customers the ability to buy and sell bitcoins. The move, disclosed by the company Wednesday, is the latest indication that the financial revolution that bitcoin’s early developers had hoped to spark isn't playing out as planned. Bitcoin remains...
Peer-to-peer payments technology firm Circle will no longer offer customers the chance to buy and sell bitcoins, though it will continue to use the blockchain technology, and employ the digital currency "behind the scenes". CEO Jeremy Allaire said bitcoin had not "evolved quickly enough to support everyday financial activities", and the lack of progress with the digital currency had left the company "deeply frustrated". Circle is in line to complete $1bn worth of transfers in six months, with cross-currency transfers up 300% in 2016.