Shaurya Malwa · 3 hours ago · 2 min read
Cryptocurrency trading platform Bittrex announced the start of the second phase of USD trading support, making USD trading, deposits, and withdrawals available to customers outside of the US and in selected US states.
The launch of fiat trading for international traders and Bittrex customers in California, New York, Montana, and Washington state will allow qualified customers to trade directly in fiat currency without the need for stablecoins such as Tether.
USD Trading Available Only To Qualified Customers
In order to take advantage of the new retail fiat trading functionality offered by Bittrex users will need to hold an identity-verified account and submit to a request process which, according to the Bittrex announcement, takes several days to complete.
Establishing a USD trading approved account that is able to withdraw fiat currency, however, is not simple. Establishing an account for USD trading only that does not facilitate USD withdrawals or deposits required only bank account approval. USD withdrawal and deposit enabled accounts must provide bank-issued statements that provide full KYC details.
Bittrex Set to Launch Altcoin USD Trading Pairs
Bittrex also announced the launch of a limited range of crypto/USD trading pairs on a trial basis, stating that fiat pairs will be added based on customer preference and an assessment of the project behind tokens up for consideration:
“We’re starting with a limited number of pairs to evaluate our systems and processes, and our plan is to continue to add fiat trading to the top digital currencies on our platform. We’re reviewing the blockchain projects we already list, listening to our customers’ trading preferences and taking other important considerations into account as we decide which USD trading pairs will be next for fiat.”