Source: Ambcrypto, originally published on .
In a recent interview with Bloomberg, Jeremy Allaire, the Chief Executive Officer and Founder of Circle gave his two cents on the Initial Coin Offering [ICO] scenario in today’s market and about the Circle’s recent acquisition news of SeedInvest.
Allaire stated that the period of volatility in the cryptocurrency market has gone down right now with a proportional decrease in the number of ICOs in the virtual assets industry. He said that the reasons for it are two-fold. One of the factors was the increased amount of scrutiny on the industry by regulatory authorities and decision making bodies.
The reduced number of ICOs was also attributed by Allaire to the vast majority of companies that raised capital and have seen their valuation go down. The CEO also spoke about the “incredible amount” of infrastructure maturing in the cryptosphere, which has helped put digital assets on the financial map. He added:
“ Tokenized assets and smart contracts will help grow the industry to a new level. I am pretty sure that over time there will be millions of assets.”
Jeremy Allaire then elucidated on the recent update that Circle was acquiring SeedInvest. Circle executives Sean Neville and Jeremy Allaire had earlier said:
“The purchase of SeedInvest 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.”
Allaire spoke about how the earlier acquisition of Poloniex was a stepping stone to Circle’s long-term mission to build a multisided marketplace where anyone can build tokenized assets. With a total market capitalization of $18,636,578, Poloniex is one of the exchanges that most of the currencies are thriving to be listed on. Currencies such as Bitcoin [BTC], Ethereum [ETH], XRP, Stellar [XLM] and many more are actively traded on this platform.
The Circle official was also candid in stating that SeedInvest has capabilities that would allow Circle to build an end to end platform with the addition of inputs due to the Jobs Act. He went on to say that the new development will benefit both accredited investors as well as retail investors.
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