Bitfinex will begin listing Cardano’s ADA on its spot exchange

Bitfinex will begin listing Cardano’s ADA on its spot exchange

Cryptocurrency exchange Bitfinex will begin listing ADA on its spot exchange. In a press release shared with CryptoSlate, the Cardano Foundation said that trading will commence on Aug. 6 with initial support for ADA/BTC, ADA/USDT, and ADA/USD trading pairs.

Users can now trade Cardano’s ADA on Bitfinex

After successfully completing the Shelley hard fork at the end of July, developments at Cardano seem to have been turbo-charged. The latest major news to come out regarding the ambitious blockchain project is the listing of its native cryptocurrency on a leading digital asset exchange.

Bitfinex, one of the leading cryptocurrency spot exchanges in the world, has now begun listing Cardano’s ADA on its platform. According to a press release shared with CryptoSlate, trading on Bitfinex will begin on Aug. 6, with initial support for three spot trading pairs—ADA/BTC, ADA/USDT, and ADA/USD. Deposits on Bitfinex have already opened.

The Cardano Foundation, a Swiss-based non-profit organization tasked with running the Cardano network, said that enabling access to direct fiat pairings in U.S. dollars will make Bitfinex one of the easiest exchanges users can purchase ADA on.

Paolo Ardoino, the CTO of Bitfinex, said that listing ADA trading pairs was a natural step for Bitfinex, as the latest developments such as Shelley have resulted in an increasing demand for the cryptocurrency.

Bitfinex listing will help Cardano go global

Nathan Kaiser, the chairman of the Cardano Foundation, explained that the arrival of staking and delegation has made ADA increasingly integral to the Cardano blockchain. This has only highlighted the need for easy and safe access to a fiat onboarding mechanism for ADA—a problem that was effectively solved with the coin’s listing on Bitfinex.

Apart from enabling users to purchase ADA with fiat currencies, Bitfinex has also made Cardano’s native cryptocurrency available to a global and diverse audience, Kaiser said.

Charles Hoskinson, the CEO of IOHK, Cardano’s parent company, agreed with the statement. In a press release shared with CryptoSlate, Hoskinson noted that the Bitfinex listing has helped realize Cardano’s goal of becoming the first truly global blockchain-based financial operating system.

“Listing on Bitfinex, one of the world’s largest cryptocurrency exchanges, represents a significant milestone on the road towards mainstream adoption of ADA, and reflects the increased market confidence in Cardano.”

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6 Aug at 9:49 pm UTC

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Cardano, currently ranked #8 by market cap, is up 0.09% over the past 24 hours. ADA has a market cap of $3.73B with a 24 hour volume of $289.78M.

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