The Poloniex cryptocurrency exchange announced the separation from the parent company Circle, after which the trading platform will be transformed into the new independent company Polo Digital Assets Ltd.
Poloniex has notified its customers that the restructuring will be supported by a large group of investors. Such a branch will allow the exchange to focus on the needs of cryptocurrency traders and present them with new options, services and assets.
From October 21, a new offer will be valid for Poloniex traders, which will last until the end of the year – all spot trading commissions will be reduced to zero. In the future, the exchange also plans to make profitable pricing models for its users. In addition, the company has developed a long-term plan for the development of a new platform, which is ready to allocate more than $ 100 million.
According to representatives of Poloniex, the exchange will not be able to remain competitive in the international market if it serves American traders. Therefore, US citizens will no longer be able to create new accounts on the exchange, and from November to carry out trading operations. In this case, until December 15, they will have the opportunity to withdraw their funds from the exchange.
Recall that Circle bought Poloniex in February last year. Later, due to the tense situation with the American regulators, the activities of the exchange were transferred offshore to Bermuda.
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