Blockchain startup Circle has released new details about how it will select cryptocurrencies for its trading and investment platforms.
On Tuesday, the firm published its Asset Framework, providing a rough outline of what aspects are evaluated when assets are added to the Poloniex cryptocurrency exchange, as well as its Circle Invest and Circle Trade product lines.
These criteria cover five different categories, which include 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.
In a release, Circle explained that “one of our primary goals for Circle products like Poloniex, Invest and Trade is to provide our customers with access to innovative new projects that fuel the industry.”
Each criterion comes with a list of potential questions that Circle’s evaluators would consider when examining a project. However, the company noted that “this framework is not intended to be a comprehensive checklist of requirements that projects must meet,” explaining that “this framework is meant to help us prioritize new listings according to the opportunity they present for Poloniex customers.”
Circle also published an Asset Listing Form, which any project applying to be listed must fill out as a first step. Notably, the company noted that it “will not accept any kind of payment to list an asset.”
At present, Circle Invest already offers bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, zcash and monero to its customers.
The move comes just weeks after Circle reportedly began seeking a banking license within the United States.
The license, if approved, would enable Circle’s various platforms to trade cryptocurrency tokens that are currently considered to be securities. It is unclear whether or when Circle will receive the license.
Cryptocurrencies image via Shutterstock
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