Circle Invest, the blockchain start-up application, has added Montero to the list of digital assets available on its platform, the firm said in a blog post on Monday.
Montero becomes the second privacy-focused coin it has added in a row. In April Circle Invest introduced ZCash onto its platform saying traders and users were now able to undertake purchases and investments in the coin.
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“You will now be able to enjoy instant purchases, no minimums and a seamless investing experience on Zcash and our five existing crypto assets,” the blockchain company said at the time.
The other coins available on the Circle Invest application include etherium, bitcoin, bitcoin cash, litecoin, and ethereum classic.
On Monday, Circle Invest senior project manager, Rachel Mayer, said in a blog post that the company had continued to grow its coin collection as it was now also supporting Monero.
“Last week, we welcomed Zcash to the coin family on Circle Invest. Today, we continue to grow our coin collection by supporting Monero as our new listed crypto asset,” said Mayer.
This effectively means that the Circle Invest platform now supports seven coins and Mayer says this makes it “the only platforms you can invest instantly and seamlessly in the widest breadth of coins by using your bank” account.
The circle becomes the first mainstream or regulated brokerages to add support for Monero which some belief may be associated with dark web activity. Circle Founder and chief executive officer, Jeremy Allaire, is however undeterred and says the company has set its sights on expanding into Asia.
“In Hong Kong, the initial focus is on the institutional market, like the firms in Asia whose business includes investing in crypto assets and virtual currencies,” he was quoted saying.
Reports said on Monday that Monero was currently trading under a market cap of about $3,6 billion. The Economics Gazette said Monero’s four-hour trading volume had peaked at around $40,5 million although in the past seven days the coin had lost ground, falling in value against the US Dollar by about 7.28%.