United States-based crypto exchange Poloniex is spinning out from Circle to form a new exchange that will not support trading for customers based in the U.S.
The new independent firm, called Polo Digital Assets, will free Poloniex from its parent company Circle, the firm said in an official announcement on Oct. 18. Per Poloniex, this will allow it to focus on the needs of global crypto traders with new features, assets and services to boost its competitiveness in the market.