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Bitfinex and Ethfinex to List 4 New Stablecoins: TUSD, USDC, PAX and GUSD

A few hours ago, and via twitter and Medium, Bitfinex announced that it was adding four additional stablecoins. The newly added stablecoins would also be listed on Ethfinex: the Ethereum token centered version of Bitfinex.

The four newly listed stablecoins are as follows.

  • USD Coin (USDC)
  • True USD (TUSD)
  • Paxos Standard (PAX)
  • Gemini USD (GUSD)

The new additions brings the total tally of stablecoins on the two platforms to six. The other stablecoins are Tether (USDT) and Dai (DAI).

Trading Effective 4th December and Why Bitfinex and Ethfinex Added the Stablecoins

The announcement by Bitfinex went on to explain that trading of the stablecoins was effective immediately on the date of the announcement: December 4th 2018. The exchange went on to explain why the team chose to add the new stablecoins.

Following the Tether boom in 2017, the stablecoin market has rapidly expanded with five alternatives of note launching from March 2018.

At Bitfinex and Ethfinex we are dedicated to providing a high quality, unbiased meeting place for every ecosystem and customer. We were the first to introduce alternative stablecoins onto our platform, including Dai (an Ethereum collateralised stablecoin), and now proudly introduce the following established stablecoins: USDCTrue USDPaxos, and Gemini USD. All stablecoins on Bitfinex and Ethfinex will be traded against USD

Tether’s (USDT) Dominance Continue’s to Reduce

The addition of 4 new stablecoins follows a similar path by other exchanges such as Binance and Huobi. With the bear market still in full effect, crypto traders and enthusiasts have developed a liking for stablecoins to hedge against times of volatility such as the recently ‘concluded’ hash wars between Roger Ver and Craig Wright.

Another factor to consider, is the entry of institutional investors who might not have a liking for Tether (USDT) given the coin’s past controversies that include Bitcoin manipulation as well as the parent company not being able to account for its USD reserves. Such uncertainty has led to exchanges such as Gemini, creating their own stablecoin as well as Paxos Standard getting the credibility needed through being registered in the United States. By registering in the US, PAX provides a secure option for Wall Street investors since it is fully regulated.

The irony of Bitfinex and Ethfinex listing the four aforementioned stablecoins, is that the earlier mentioned Bitcoin manipulation using USDT was allegedly carried out on Bitfinex. But the additional 4 stablecoins adds much needed credibility to the exchange. It shows that Bitfinex is willing to become a platform that caters for the needs and concerns of traders.

What are your thoughts of Bitfinex and Ethfinex listing four additional stablecoins? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Bitfinex and Ethfinex to List 4 New Stablecoins: TUSD, USDC, PAX and GUSD appeared first on Ethereum World News.

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Bitfinex and Ethfinex to List 4 New Stablecoins: TUSD, USDC, PAX and GUSD

A few hours ago, and via twitter and Medium, Bitfinex announced that it was adding four additional stablecoins. The newly added stablecoins would also be listed on Ethfinex: the Ethereum token centered version of Bitfinex.

The four newly listed stablecoins are as follows.

  • USD Coin (USDC)
  • True USD (TUSD)
  • Paxos Standard (PAX)
  • Gemini USD (GUSD)

The new additions brings the total tally of stablecoins on the two platforms to six. The other stablecoins are Tether (USDT) and Dai (DAI).

Trading Effective 4th December and Why Bitfinex and Ethfinex Added the Stablecoins

The announcement by Bitfinex went on to explain that trading of the stablecoins was effective immediately on the date of the announcement: December 4th 2018. The exchange went on to explain why the team chose to add the new stablecoins.

Following the Tether boom in 2017, the stablecoin market has rapidly expanded with five alternatives of note launching from March 2018.

At Bitfinex and Ethfinex we are dedicated to providing a high quality, unbiased meeting place for every ecosystem and customer. We were the first to introduce alternative stablecoins onto our platform, including Dai (an Ethereum collateralised stablecoin), and now proudly introduce the following established stablecoins: USDCTrue USDPaxos, and Gemini USD. All stablecoins on Bitfinex and Ethfinex will be traded against USD

Tether’s (USDT) Dominance Continue’s to Reduce

The addition of 4 new stablecoins follows a similar path by other exchanges such as Binance and Huobi. With the bear market still in full effect, crypto traders and enthusiasts have developed a liking for stablecoins to hedge against times of volatility such as the recently ‘concluded’ hash wars between Roger Ver and Craig Wright.

Another factor to consider, is the entry of institutional investors who might not have a liking for Tether (USDT) given the coin’s past controversies that include Bitcoin manipulation as well as the parent company not being able to account for its USD reserves. Such uncertainty has led to exchanges such as Gemini, creating their own stablecoin as well as Paxos Standard getting the credibility needed through being registered in the United States. By registering in the US, PAX provides a secure option for Wall Street investors since it is fully regulated.

The irony of Bitfinex and Ethfinex listing the four aforementioned stablecoins, is that the earlier mentioned Bitcoin manipulation using USDT was allegedly carried out on Bitfinex. But the additional 4 stablecoins adds much needed credibility to the exchange. It shows that Bitfinex is willing to become a platform that caters for the needs and concerns of traders.

What are your thoughts of Bitfinex and Ethfinex listing four additional stablecoins? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Bitfinex and Ethfinex to List 4 New Stablecoins: TUSD, USDC, PAX and GUSD appeared first on Ethereum World News.

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Ethereum Network Tokenized U.S. Dollars Trade made Possible by Tether

Transform Your Dollars to Crypto-Tokens

The leader in providing tokenized currencies Tether is offering tokenized USD on the Ethereum Network, a service on the second by market cap major cryptocurrency following only Bitcoin. In a simple context – traders, users and investors can change their government supported currencies into tokens which can be used to make exchanges easier and simpler.

On Sep 11 it was announced the launch of the ERC20 Tether tokens in partnership with Ethfinex – a trading platform and information hub on ETH network. If everything goes as planned many delays users very often have to struggle with will be cleared when they have to user businesses and banks services.

“The number of tokens and assets being tokenized on top of the Ethereum platform is growing rapidly, with many proving disruptive to traditional business models,” said Project Lead at Ethfinex Will Harborne. “By enabling all ERC20 compatible applications and protocols to integrate tokenized USD, we expect to see enhanced efficiency and further stability on the Ethereum network.”

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So in a nutshell, users will deposit the USD, it will be converted into a virtual currency named “Tether – ₮”. All of the Tether assets will have a name and symbol of their own to represent the trade which later can be used as an aforementioned ERC20 token.

Later on, it is expected the yen and euros will be supported on the platform and network too. TokenCard has been added on the partnership, making it possible for the Tether users to use their tokenized currency on the way that they are want like with traditional currencies.

This could be a complete system change and how we see or use cryptocurrencies and the tokens. Ethfinex did put out a very important target that the partnership has ahead: developing currencies that could be very simple and usable by users on everyday events in their daily life.

“We believe this development will not only open up the world of cryptocurrencies to more mainstream consumers, but also set the standard, and encourage other companies to be more innovative and accessible in their product and service offering at this pivotal time for money and payments,” said Tether co-founder Craig Sellars.

Blockchain technology in general is changing how things got done until now like the way we vote, entertainment industry, improved air travel and so on. If everything rolls out as planned for companies like Ethfinex, Tether and so on – the understanding and use of money could change entirely.


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First Time Tokenized USD on Ethereum to be made possible by Tether and Ethfinex

Sometimes to make it, you have to be the first!

In cooperation and partnership with Ethfinex – an Independent different version the Hong Kong based cryptocurrency exchange platform Bitfinex, the leader in delivering tokenized government supported currencies TETHER – today has declared the launch of Tether ERC20 token on the ETH blockchain network. This will be making possible tokenized US Dollar to be exchanged on the network for the first time since in history its has initiated.

Very well known and famous throughout the crypto-community, Tether is the first blockchain network-enabler of traditional known currencies to be tokenized. In example using fiat money to get transactions done in between of different exchanges with no volatility associated with virtual currencies.

The Co-founder of Tether, Craig Sellars stated:

“Following the success of our widely used US Dollar tokenization on the Bitcoin blockchain, this latest version enables interoperability with Ethereum-based protocols and DApps. We believe this new development will reduce the current interbank delays often involved in exchange withdrawal and allow our users access to tokenized USD – a first for the industry.”

“We believe this development will not only open up the world of cryptocurrencies to more mainstream consumers, but also set the standard, and encourage other companies to be more innovative and accessible in their product and service offering at this pivotal time for money and payments.”

Forming the partnership with Ethfinex, makes it possible having a large range of approach to users, keeping in mind it is the leading trading and information place for projects and developments on the Ethereum blockchain network. This will give Tether access to a very back and forth liquid and advanced trading platform for the tokens.

Project leader at Ethfinex – Will Harborne, commented:

“The number of tokens and assets being tokenized on top of the Ethereum platform is growing rapidly, with many proving disruptive to traditional business models. By enabling all ERC20 compatible applications and protocols to integrate tokenized USD, we expect to see enhanced efficiency and further stability on the Ethereum network.”

Joining the pack is a smart-contract project powered debit card which you might have heard before: TokenCard and which also is ETH gateway formed in 2016. With this integrated and the Tether ERC20 accepted, users throughout the market can use traditional fiat currencies for the transactions.

Co-founder of TokenCard – Mel Gelderman stated:

“The launch of Tether fiat tokens on the Ethereum network is a huge step towards mass consumer adoption. This blurs the boundaries of what is considered a blockchain asset versus a ‘regular’ asset and will enable people to own the fiat currencies most familiar to them but in a tradeable digital form.”

“This will make it much easier for the majority to use Ethereum powered platforms, like TokenCard. The option of choosing TokenCard over traditional banks becomes even easier if a national currency can be held in token form. The strength and versatility of the Ethereum blockchain enable a safe and secure means of transferring funds anywhere in the world without needing to use a bank of any kind.”

The upcoming data, list of balances issued to all tether can be verified, viewed and checked on the on-chain deployments of Tether contracts by anyone in particular. This will indicate a 100% transparent demonstration at all time which information and reports will be publicly published on the website.


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