Stablecoins make their way to Bitfinex

Bitfinex announces support for four new stablecoins.
Cryptocurrency market is sliding down.

Tanya Abrosimova Independent Analyst

Bitfinex, a popular cryptocurrency exchange based in Hing Kong, added support for four new stablecoins - USDC, True USD, Paxos, and Gemini USD.

"From today customers can access all major stablecoins at Bitfinex, as we introduce USDC, True USD, Paxos, and Gemini USD to our existing Tether and Dai offering," the company announced in its Twitter account.

Apart from the main trading platform, new stable coins will be available on Ethfinex, which previously supported only USDT and Dai. Thus, now Bitfinex and Ethfinex support all major stablecoins, reflecting the current market situation and customers' demand.

"At Bitfinex and Ethfinex we are dedicated to providing high quality, an unbiased meeting place for every ecosystem and customer. We were the first to introduce alternative stablecoins onto our platform, including Dai (an Ethereum collateralized stablecoin), and now proudly introduce the following established stablecoins: USDC, True USD, Paxos, and Gemini USD," the company wrote in its blog post.

All stablecoins will be available in USD trading pairs; however, only verified users would be able to deposit and withdraw funds.

While stablecoins prove their status and remain stable, other digital assets are sidelined with bearish bias during early Asian hours. BTC/USD is changing hands at $3,840, down 1.5% since the beginning of the day. ETH/USD is down 2% to trade at $107.6, while XRP/USD stays under $0.3500. NEO and Bitcoin Cash are among the biggest losers; both coins are down 4.5%

Author

Tanya Abrosimova

Independent Analyst

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