To increase transparency of the crypto exchange, Circle Internet Financial Limited, a cryptocurrency startup backed by Goldman Sachs, has released details of its new Circle Asset Framework and Asset Listing Form. The firm further detailed how a blockchain firm should proceed with the listing of a new coin at Circle’s platform.
Any crypto company willing to list its coin at Circle has to follow its Asset Framework which includes questionnaires across five broad categories – fundamentals, technology, people, business model, and market dynamics.
“Our Asset Framework provides an approach to understanding each asset’s potential,” Circle noted in the official announcement. “We score projects in each category based on publicly available data points and information submitted to us through our Asset Listing Form.”
However, the company clarified that the framework is not a strict format considering the dynamic nature of the sector. “We want to be clear: this framework is not intended to be a comprehensive checklist of requirements that projects must meet. We understand that projects may be at different points in the development cycle, and each brings something different to the table. Instead, this framework is meant to help us prioritize new listings according to the opportunity they present for Poloniex customers,” Circle added.
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Circle also mentioned that it would support forks, swaps or even airdrops of coins. However, these should be planned and well communicated with Circle’s team in advance.
Moreover, Circle revealed that it might delist a coin if it does not follow the exchange’s standard.
Big plans ahead
Earlier this year, Circle acquired Poloniex, a cryptocurrency exchange, for an estimated sum of $400 million.
Last month, Circle signed a partnership deal with Bitmain, which led a $110 million Series E equity investment in the exchange platform. The firm also revealed its plans to launch a cryptocurrency backed one-to-one with USD.
Circle currently lists seven coin – Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Monero, and Zcash – and with the release of the Asset Framework, it is clear that it is looking to list the high return-on-investment altcoins.