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Circle, the Boston-based Goldman Sachs-backed tech company founded by Jeremy Allaire and Sean Neville in 2013, has been in the headlines in recent months with its various acquisitions in the crypto space. Now the company revealed that it’s all part of a grand strategy, a long-term bet that the crypto industry is here to stay and that the “tokenization of everything” is bound to happen.

Despite the current bear market, Circle has been making bold moves targeting the crypto space this year. In February, the peer-to-peer payment company announced its acquisition of Poloniex, a Delaware-based cryptocurrency exchange platform, to the tune of $400 million.

Circle also introduced a dollar-pegged cryptocurrency in September. Called the US Dollar Coin (USDC), each token is backed by one US dollar and is seen as an alternative to the popular stablecoin Tether.

The company’s latest acquisition just happened this October. Circle acquired SeedInvest, a New York based crowdfunding platform and broker-dealer.

Initially, these crypto-industry-targeted moves baffled some industry watchers as Circle did not seem too interested in the space until this year. When one takes into account that the market is yet to recover from January’s plunge, the company’s timing of its entry might seem off. However, Circle now revealed that it is all part of a grand scheme — a long-term bet on the industry’s longevity and the emergence of token-based crowdfunding.

In an interview at the Security Token Academy conference in Manhattan, Circle founder and CEO Jeremy Allaire told CNBC:

“If we zoom out, there’s going to be this tokenization of everything. Eventually, these marketplaces will have tens of thousands, if not hundreds of thousands of assets — so the next piece was a broker-dealer.”

One of the key reasons for the deal is SeedInvest’s broker-dealer license. While few ICO frauds might have tarnished the industry’s image, both Circle and SeedInvest believe that the potential for a token-based approach for businesses to raise capital is huge.

Allaire added:

“If people can exchange value over the internet without a toll extracted for payments it’s pretty dramatic. It’ll make the web look like a cute experiment comparatively speaking in 10 to 15 years.”

Circle Is Making a Big Bet on the ‘Tokenization of Everything’ was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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