Bitfinex Exchange Launched USDT Markets For Bitcoin And Ethereum
Hong Kong Cryptocurrency Exchange BitFinex announced the launch of the first cryptocurrency trading pairs with stablecoin USDT. The new BTC / USDT and ETH/USDT are available for trading under the BTCUST tickers for Bitcoin and ETHUST for the second most powerful cryptocurrency Ethereum.
We are pleased to announce the launch of USDT markets for both Bitcoin (BTCUST) and Ethereum (ETHUST) in an effort to optimise cross-pair market making capabilities.
Read the full announcement here: https://t.co/CDUWIlfqzv
— Bitfinex (@bitfinex) March 11, 2019
According to a statement, Bitfinex says that new markets are launched as part of an exchange strategy to implement differentiated trading strategies and are aimed at “simplifying and optimizing the capabilities of interbash market-making in pairs with USDT”.
Up until today, Bitfinex offered USDT trading only against the US dollar, including with the leverage. The corresponding option was added in December 2018.
Recall that last week, the Tether Stablecoin Issuer and the developer of the Tron protocol announced a partnership, under which the USDT token will be launched on the Tron blockchain. The new asset will join the Tether family of steblokoins on Bitcoin and Ethereum blockchains.