Cryptocurrency exchange Bittrex has revealed plans to introduce U.S. dollar (USD) trading pairs for two new cryptocurrencies.
An official announcement that was released by Bittrex shed light on the matter.
According to the announcement, Bittrex has plans to expand its fiat markets to Ethereum Classic (ETC) and Ripple (XRP) on August 20. The new trading pairs would be added to already listed dollar markets for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and TrueUSD (TUSD).
Bittrex says that it would continue progressively adding tokens to its USD markets, using a “phased approach” for USD trading. Bittrex explained that it takes a measured approach to “ramping up these markets” to ensure quality in protocols and systems before making them available to qualified customers.
“In addition to broader acceptance, expanding fiat markets to the top digital currencies on our trading platform will help limit the dominance and influence of any one token over other blockchain projects – a necessary evolution if we’re going to unleash blockchain’s potential benefits for consumers and businesses.”
The exchange was established in 2014 by Bill Shihara and two business partners, all of whom served before in the security team at Amazon. In February of this year, Shihara made known the exchange’s intention to open up USD trading to majority of its clients.
In October 2017, the company made an unexpected ruling to disable thousands of accounts for compliance reviews without cautioning its users in advance. Later in December, the firm temporarily halted registration of new users, claiming an inability to precisely verify each new user due to high demand. The exchange later opened again, but with additional requirements.
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