Bittrex Expands And Adds Cardano And ZCash To US Dollar Markets
The famous virtual currency exchange Bittrex has decided to add two new US Dollar trading pairs. In the past the trading platform offered fiat trading with other three markets: Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD).
Earlier this year, Bill Shihara, Bittrex CEO, said that the company wanted to offer services to qualified customers that are interested in digital trade execution.
The latest trading pairs linked to USD markets have been offered to ‘small groups of retail customers.’
Different markets have been launched for XRP and Ethereum Classic (ETC). Moreover, on August 29, Bittrex announced new US dollar markets for Cardano (ADA) and Zcash (ZEC). They will be added to the platform on September 5.
At the moment, not everyone is able to trade US dollars. The feature is limited to users that live in certain regions. Those users interested in trading these markets can send an application online.
Shihara commented on the matter:
“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 quality.”
These additions to this exchange will be very helpful for the market. ADA and ZEC will be increasing liquidity significantly in the United States. Bittrex trading has been designed in order to be scalable and secure. The main intention is to comply with U.S. trade regulations.
Currently, the virtual currency exchange is not regulated by securities laws in the United States.
At the moment, Bittrex is the 26th most important virtual currency exchange in the market with $47 million dollars in trading volume in the last 24 hours. The most important trading pairs are BTC/USDT, DOGE/BTC and ADA/BTC accounting for 25,77%.