Poloniex cryptocurrency exchange purchased by Circle

Cryptocurrency exchange Poloniex announced it has been acquired by Circle.

Circle is a mobile payment liquidity provider which has been funded by companies like Goldman Sachs and IDG Capital Partners.

In a statement on its website, Circle said it would address customer support and scaling issues at Poloniex, while improving technical operations and compliance with regulation.

The company will also explore fiat currency connectivity and maintaining the features and service already offered by the exchange.

Poloniex is a major cryptocurrency exchange, ranking 12th in the world in terms of trading volume.

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Poloniex cryptocurrency exchange purchased by Circle