Circle, the Boston-based cryptocurrency firm, announced Thursday that it is shutting down one of its Circle Pay app as the firm shifts its attention to building out other businesses.
Circle Pay allows users to send and receive digital currencies similarly to payments apps like Venmo and Square's Cash App. The product, which has struggled to gain significant traction, will officially shut down in September. Circle Pay currently sits at number 121 on the list of top downloaded finance app in the app store. Venmo and Cash app sit at number two and number one, respectively.