BITFINEX ADDS SUPPORT FOR LARGE STABLECOINS

This Tuesday, the Bitfinex Cryptocurrency Exchange announced that from now on, all six major stablecoins will be available on its main platform and platform Ethfinex.

The company notes that the USDT token, issued by its affiliated issuer Tether, entered the market in 2014 and for a long time remained the only stablecoin, thanks to which traders “had the opportunity to quickly move their assets between exchanges, taking advantage of the stability of the US dollar.”

However, in 2018, the situation began to change rapidly, and the market already has several serious players ready to provide the same benefits.

Bitfinex notes that it strives to remain unbiased towards all ecosystems and customers. In this regard, the exchange previously added support for Dai stablecoin, and now for four alternatives: USDC, True USD, Paxos and Gemini USD.

All stablecoins on Bitfinex will be on equal terms and traded in pairs with the US dollar.

Earlier, Tether reported that the ability to repay USDT tokens in US dollars is now available on its own website, while previously users were forced to conduct this operation through the Bitfinex exchange.