Circle CEO Jeremy Allaire says users will have access by the end of July

If there’s one thing Circle‘s team understands, it’s building anticipation. With a product that promises near-instant bitcoin “deposits” and “withdrawals” directly from bank accounts and credit cards, and free access to those funds anywhere in the world, Circle certainly looks like a viable contender for a mainstream appeal. When the company presented a demo version of its platform in May, and allowed users to be added to an invite list for testing, it was flooded with responses.

Circle has been relatively quiet since that time, however, and there has been a telling silence about the product on popular bitcoin forums. If Circle was allowing users to test their product, it seemed that testing was either protected by non-disclosure agreements or limited to people who were completely removed from the bitcoin community. Even though Circle has an impressive team behind it and $26 million in venture capital funding it, many expressed doubt that the project was actually as close to launch as CEO Jeremy Allaire claimed.

Speaking to CoinDesk in advance of the Bitcoin Finance 2014 conference in Dublin, Allaire said that all users on Circle’s waiting list will have full access by the end of July. Allaire declined to say how many active users Circle currently has, although he did say it was in the thousands.

Allaire also explained the slow timeline for Circle’s debut, telling CoinDesk that the company is “being cautious” in an effort to ensure its systems will be able to scale properly during the launch. “If we just opened the doors today, we think we would just get inundated and everyone wouldn’t have a great experience,” he said.