Payments start-up Circle moves away from bitcoin business

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – U.S.-based Circle Internet Financial Ltd, a social payments app backed by Goldman Sachs, said on Wednesday it will no longer allow customers to buy and sell bitcoin because it has failed to become a meaningful part of its business. "Using bitcoin for speculative trading or people buying and selling bitcoin because they think it's fun — that's not an interesting business for us," Jeremy Allaire, Circle's chief executive and co-founder, said in a interview with Reuters. "It's a distraction to have to support these customers given that our growth has been on our social payments business." Instead, customers will be directed to digital asset exchange Coinbase if they want to buy and sell the digital currency.

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