Hot on the heels of its Coinbase Pro listing, the Basic Attention Token cryptoasset (BAT) will be available for purchase the U.S.-based Circle platform, Circle announced on its social media platforms.
The rapid listing of BAT on Circle after Coinbase should come as no surprise, as Circle and Coinbase are partnered in the Centre venture. As CryptoGlobe covered last month, Centre is a platform created to disseminate the adoption of so-called stablecoin cryptoassets. Circle’s own stablecoin, USDC, was first listed last month on Coinbase.
Circle said that it employed its “Circle Asset Framework” to select the BAT token for trading on its platform. The Framework is a set of criteria used when deciding how to list tokens; among which criteria are asset novelty, technological/developmental rigour, community support and (thus) liquidity, etc. The Framework emphasizes that it does not accept listing fees.
The Office of the Attorney General of New York, in its recent assessment of exchanges, specifically approved of Circle’s, and Poloniex’s (which Circle owns), disclosure of criteria, commenting “Transparency like [Circle’s] is helpful […] Platforms that have not disclosed their listing standards publicly should consider doing so.”
Circle has deep connections to traditional finance, forming a link between stakeholder Goldman Sachs on one end, and the Poloniex cryptoasset exchange on the other. Circle is less a trading than an investment platform, offering large over-the-counter transactions and fiat services. Speaking to CryptoGlobe, Circle’s head of legal & business affairs Claire Wells revealed the firm trades over $2 billion OTC.
BAT at Large
BAT’s creator, Brendan Eich, recently dropped a hint that he was in communication with an unnamed website, which could bring at least 80 million new users over to the Brave platform, which utilizes the BAT token.
Otherwise, the token has done well during the past month, climbing about 160% to a high of $0.39 from mid-September lows on expectations of the Coinbase listing. The Coinbase listing saw the token take a big sell-the-news hit, and the Circle listing seems to have had little effect on the price slide down to a current $0.26.