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A big announcement involving Ripple (XRP) and Ethereum Classic (ETC) arrived this Wednesday, August 8, when Bittrex announced the intention to add fiat pairings to these two cryptos. [19659003] New trading pairs to be introduced on Bittrex
Back on May 31 of this year, Bittrex stated that it offers fiat trading for all corporate clients. Furthermore, the exchange has hinted that it may soon add new cryptographic / fiat pairs. At that point, the exchange only matched Bitcoin (BTC), TrueUSD (TUSD) and Tether (USDT) with traditional currencies.
However, the exchange said that this list could expand soon, in order to establish better quality control and ensure that customers get the best service that the exchange has to offer. At the time, Bill Shihara, managing director of the exchange, said that Bittrex is considered one of the main advocates of blockchain technology. As such, the exchange engages in many of its efforts to list new tokens with the best applications in the business sphere.
However, they must also be among the most innovative blockchain projects to be considered. By adding new cryptographic / fiat pairs, the exchange hopes to help enforce cryptographic technology and aims to allow more options to its customers in their encryption.
Only two weeks later, on June 14, the announced exchange roll out what they call the "next phase". The plan was to invite additional groups of customers from the retail industry to become participants in the USD markets. In the end, almost two months later, the exchange decided to add two new cryptographic / fiat pairs. And so, on 20 August, the launch of the XRP / USD and ETC / USD pairs is expected.
According to the announcement of the exchange, I am very excited at the idea of adding these new couples. The statement also said that they are not only allowing new couples that would make their purchase and exchange more direct and practical, but they are also the only exchange that currently offers them. In addition, they intend to continue adding tokens to this market, so that customers can access even more secure, convenient and fast trading options.
Bittrex plans to expand one step at a time
With the addition of these two coins, exchange customers will now have access to BTC, USDT, ETH, TUSD, ETC and XRP. Initially, this will only apply to customers who are invited to participate in the rollout. When asked who can apply for the launch, Bittrex said that, for now, this list is limited to customers of personal and business accounts. There are two different forms of application, one for corporate customers and one for customers with personal accounts, which must be completed.
Exchange customers who are currently outside the currently approved locations will also receive access over time. The exchange began only with its expansion and further development plan, and each new phase will bring new updates, additional information and more.
This is a big move that will significantly increase the liquidity of ETC and XRP, especially within the United States. Not only that, but it also indicates that Bittrex has finally moved from considering Ripple to security, and it is certain that the SEC will do the same.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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