Major cryptocurrency exchange platform and electronic wallet service provider, Bittrex recently announced that they have plans to launch USD trading pairs for the two new cryptocurrencies which will be supported on their platform including Ripple (XRP) and Etherium Classic (ETC).
As stated in the official announcement, Bittrex is now planning a major expansion of its fiat markets via the two new cryptocurrencies which will be officially supported on August 20.
The support for new cryptos will be adding important trade pairs with USD to the platform. Those will be hence added to the list of other already supported pairs which currently include: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and TrueUSD (TUSD).
Bittrex also informed that the platform will keep expanding and adding new cryptocurrencies for its USD markets. They will reportedly be using a so-called “phased approach” for USD trading as the process takes a “gradual approach to ramping up these markets in order to ensure quality in processes and systems before making them available to qualified customers”.
According to Bittrex: “in addition to broader acceptance, expanding fiat markets to the top digital currencies on our trading platform will help limit the dominance and influence of any one token over other blockchain projects – a necessary evolution if we’re going to unleash blockchain’s potential benefits for consumers and businesses”.
Bittrex, which was founded back in 2014 by ex-team members at Amazon including Bill Shihara, is one of the most prospective exchangers in the market. The main announcement about exchange’s intention to open up USD trading for the customers was made by Shihara earlier this year in February.
Currently, Bittrex is reportedly 23rd largest exchange platform in the world with a trade volume worth over $72 million. Coinmarketcap reports that the platform has grown by 16% in 24 hour period.
