Bittrex Adds Cardano, Zcash to US-Dollar Markets 🚨 This article is 6 years old...
Bittrex Adds Cardano, Zcash to US-Dollar Markets
2 min read
Updated: Nov. 7, 2019 at 6:03 am UTC
Photo by Kyler Boone on Unsplash
Seattle-based cryptocurrency exchange Bittrex has revealed plans to include two new U.S. dollar trading pairs in its current trading markets.
Bittrex Trading Platform Continues to Grow
The Seattle-based trading platform previously offered fiat trading within three markets for corporate consumption: Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD). In May of this year, however, Bittrex CEO Bill Shihara made a statement saying the company’s overall plans were leading up to offering services to any qualified customers interested in digital trade execution.
Adoption of the latest trading platforms was foreshadowed in mid-June when Bittrex began appealing to “small groups of retail customers” who participated in the U.S. dollar markets.
By June 20, markets were launched for Ripple (XRP) and Ethereum Classic (ETC). In the latest phase of adaptive incorporation, it was announced on Twitter, Aug. 29, that Bittrex will launch U.S. dollar markets for Cardano (ADA) and Zcash (ZEC) on Sept. 5., adding that eligible accounts created before August already qualify for U.S. dollar trading.
Eligibility for the latter’s corporate and personal clients falls under qualifying states and international regions, but as fiat trading grows in popularity, those qualifying regions will also expand. Respective application forms for each type of client can be found online, and current U.S. states included are Washington, California, New York and Montana.
In a statement, Shihara said:
“As an incubator and leading advocate of blockchain technology, Bittrex is committed to listing tokens that not only have the best business applications, but also are the most innovative blockchain projects in the world. Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity.”
The addition of ADA and ZEC to Bittrex increases that liquidity significantly in the U.S.
Bittrex trading is designed to be scalable and secure by complying with U.S. trade regulations. The exchange is not currently regulated under U.S. securities laws.
