Circle: How To Market A Crypto Finance Company
September 25 2018 - 4:44AM
ADVFN Crypto NewsWire
With investment up but attitudes towards cryptocurrency being
more diverse than ever, it can be difficult to encourage customers
to use new products that operate using blockchain. However, one
fintech that has succeeded is Circle, which made it into the top 20
UK iPhone App Store chart last year.
Circle is a crypto finance company that allows people around the
world to create and share value in an affordable, open and
empowering way by leveraging blockchain technology and crypto
assets, the company has attempted to reimagine what financial
services mean.
With products such as Circle Pay, Poloniex and Circle Trade
already being adopted, Circle are also on the brink of releasing
investment app Circle Invest in Europe after success in the US.
This product is an easy way for crypto newbies to invest in a range
of different assets through a simple, seamless and mobile
experience.
Speaking to Circle’s Managing Director Europe and Global CMO
Marieke Flament ahead of the Europe launch of Circle Invest, she
said when bringing the fintech to the continent, “hiring was one of
the biggest challenges”.
Flament continued to say that “when I joined in February 2016,
blockchain technology and cryptocurrencies were emerging concepts
in Europe, and Circle wasn’t as widely known as it is today. We
tackled these challenges by building and fostering a great working
culture at Circle - defining the values we would life new hires to
have, such as continuous innovation, providing flexible working
benefits, focussing on diversity and having an inspiring
vision!”
“Another challenge, and one we continue to focus on, is
educating people about the value of crypto. And I’d be remiss if I
didn’t mention the competition in crypto, which is fierce.”
Circle’s social payment app Circle Pay soon achieved widespread
adoption after using a networth of student ambassadors in the
UK.
“The app is perfect for students because most are digital
natives and our app makes it as easy and intuitive as possible to
manage money digitally. Through Circle Pay, they can send money as
easily as a text or Snap, which makes the whole process
conversational instead of daunting,” Flament explained.
Following on from the success of this, Circle Trade was born,
the OTC trading desk created for large scale trades in
cryptocurrencies to facilitate liquidity needs and later, Circle
acquired the token exchange platform Poloniex, which offers
liquidity in ethereum - the first to reach $1 billion in daily
volume.
When asked about dealing with resistance to blockchain, Flament
said that Circle wants to “educate people and try to demystify
blockchain and crypto, which we know can be complex. We do that
through educational blogs, by speaking at conferences all over the
globe, and trying to answer questions from customers, crypto
enthusiasts, and reporters.
“The great thing is when people learn about crypto and
blockchain, they tend to fall in love and share what they learn
with everyone they know. We also work closely with regulators to
help educate them on the industry and to learn from them about how
we can operate within the law and with high standards.”
While there is resistance to crypto, that Circle seem to be
dealing with, another obstacle that every fintech will have to face
is Brexit, an issue for those who are attempting to set up in
Europe, like Circle are.
On this subject, Flament said: “Whilst London will probably
continue to be the centre of innovation and talent for the fintech
industry across Europe, Brexit could lead to Circle potentially
losing its ability to passport its e-money licence issued by the
FCA. We are in conversations to obtain licences in other European
jurisdictions to mitigate this issue.”
Source: Forbes
Madhvi Mavadiya Contributor
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