Bitfinex Introduces Trading for 12 Altcoins Including Tether Competitor
HomeCryptocurrency NewsCryptocurrencies Latest News

Bitfinex Introduces Trading for 12 Altcoins Including Tether Competitor

Bitfinex has announced the introduction of 12 new ERC-20 tokens. Among the tokens listed is Dai – a stablecoin competitor to Tether. Also ...

Crypto-Backed Lending Platform Blockfi Approved to Operate in California
Investor Information Portal Launches Jobs Board for Cryptocurrency Industry
DOJ Special Agent Empathizes With Bitcoin Adoption in Venezuela

Bitfinex has announced the introduction of 12 new ERC-20 tokens. Among the tokens listed is Dai – a stablecoin competitor to Tether.

Also Read: First Soros, Now Rockefellers Move into Cryptocurrency

Bitfinex Announces Trading Pairs for 12 New Altcoins

Bitfinex Introduces Trading for 12 Altcoins Including Tether CompetitorOn April 7th, Bitfinex announced via Medium the introduction of 12 new altcoins on its trading platform. All of the new tokens are ERC-20 tokens (the technical standard for smart contracts hosted on the Ethereum blockchain).

The newly supported altcoins are Aion (AION), Iostoken (IOST), Request Network (REQ), Raiden Network (RDN), Loopring (LRC) Bnktothefuture Token (BFT), Cofound.it (CFI), Wax (WAX), Singularitynet (AGI), Medicalchain (MTN), Odem (ODEM), and Dai (DAI).

BTC, ETH, and USD trading pairs for the newly supported altcoins went live at 4PM UTC on April 7th. Bitfinex’s announcement stated that “The newly introduced token listings have a combined market capitalization of $1.1B+ USD.” Margin trading and lending markets for the new tokens “will be enabled gradually, as sufficient liquidity develops.”

Notable Listings Include Dai and Bnktothefuture

Bitfinex Introduces Trading for 12 Altcoins Including Tether CompetitorThe newly listed ERC-20 tokens include Dai, “a digital, decentralized stablecoin built on Ethereum.” The listing of Dai is significant, as the project appears to be in direct competition with major stablecoin, Tether – which shares the same directors as Bitfinex. The exchange stated that “Dai will initially be made available against BTC, ETH, and USD whilst we explore the possibility adding additional DAI pairs.”

The listing of Bnktothefuture Token is also notable, as Bnktothefuture appears to own shares in Bitfinex. Bnktothefuture was also involved in the controversial conversion of BFX tokens into equity in Bitfinex following the devastating hack suffered by the exchange in 2016. On August 22nd, 2016, Bitifinex “formally signed a letter of intent with Bnktothefuture […] to provide solutions towards compensating customers with equity in Bitfinex.”

The Chief Executive Officer of Bitfinex, Jean-Louis van der Velde, stated “The introduction of such a large selection of tokens, representing a diverse array of blockchain-based projects, marks an exciting development for Bitfinex. We are proud to introduce these as we believe that each token serves to strengthen and enliven a unique aspect of the global blockchain ecosystem, and will offer new and exciting trading options for our users.”

Mr. Velde added “We are excited to be going the extra distance to accommodate the needs and expectations of our traders. Looking forward, we will continue to expand our service offerings to best address their needs, and to maintain an advanced and supportive trading platform for the growing digital asset community.”

Do you think that Bitfinex’s decision to list Dai is significant? What do you think the listing of Dai on Bitfinex may indicate for Tether’s future? Share your thoughts in the comments in the section below!


Images courtesy of Shutterstock


Need to calculate your bitcoin holdings? Check our tools section.

The post Bitfinex Introduces Trading for 12 Altcoins Including Tether Competitor appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/2Jvw7nl
Name

Bitcoin News,5117,Bitcoinist.com,4741,Cryptocurrencies,4741,Cryptocurrencies Latest News,5117,Cryptocurrency Latest News,4741,Cryptocurrency News,9858,
ltr
item
Cryptocurrency Latest News: Bitfinex Introduces Trading for 12 Altcoins Including Tether Competitor
Bitfinex Introduces Trading for 12 Altcoins Including Tether Competitor
https://news.bitcoin.com/wp-content/uploads/2018/04/shutterstock_382756228-1-768x768.jpg
Cryptocurrency Latest News
http://cryptocurrencylatest.blogspot.com/2018/04/bitfinex-introduces-trading-for-12.html
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/2018/04/bitfinex-introduces-trading-for-12.html
true
1236144943044321696
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy