Poloniex officially separates from Circle.

Trading platform Poloniex has exited the umbrella of its parent company Circle, the two companies announced Friday.

According to a few publications Poloniex is now called “Polo Digital Assets, Ltd,” an independent international company backed by an unnamed Asian investment firm.

What is new in the new platform is that it will not provide its services to residents of the United States of America from this year.

US users have been given until December 15th to withdraw their cryptocurrencies

With the suspension of all their trading starting on November 1, 2019.

And what the new administration of the Poloniex platform has stated is that it has 100 million dollars that it seeks to spend on developing and expanding its services.

Read:China distributes $2.3 million worth of digital yuan to Shenzhen residents

On the occasion of its separation, the platform offers a reduced offer for trading fees, which it set at 0% fees, between October 21 and December 31, 2019.

Poloniex was acquired by Circle for $400 million in February 2018.

pointed out Jeremy Aller and Sean Neville, founders of Circle, said that their company aims and plans to redouble its efforts to build a more open, global and accessible financial system by focusing on growing its stablecoin and building SeedInvest, a crowdfunding platform.

They stated about the Poloniax secession process with the following statement:

The Poloniex breakup is bittersweet for Circle and seeing this amazing product outperform the business…we’ve made tremendous progress with Poloniex.

Including massive improvements in infrastructure

Add more fiat options with USDC integration, launch best native apps for traders, and build global operations capabilities that can provide excellent customer service.

Read:Find out more about the CasperLabs Project Partnership and the Chainlink Project

Read also:

CoinMarketCap makes its first acquisition to improve its data

The 5 most important acquisitions in the crypto world for 2019