The US-based cryptocurrency exchange Bittrex has announced that it is launching US dollar (USD) fiat trading pairs for two new cryptocurrencies - Ethereum Classic (ETC) and Ripple (XRP) - on August 20. The exchange currently has USD trading pairs for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and TrueUSD (TUSD).
Bittrex said that they will continue to use a phased approach for USD trading, adding that this approach not only allows them to stress test its systems but also ensures they have time to properly evaluate which tokens should be added to its USD markets and when.
"We’re going to continue adding tokens to our USD markets, providing our customers even more convenient, fast and secure trading options as well as access to some of the world’s most innovative blockchain projects."
Bittrex's current corporate and personal account customers, who reside in eligible states and qualified international regions, are able to apply for USD trading at this time. The more states will be added over time, the exchange said. It added:
"Today’s announcement is another exciting step toward further adoption of blockchain technology, which is truly revolutionary. 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 first announced its plan of launching USD trading in February of this year. With more and more USD pairings coming to Bittrex, the exchange is likely to see a better spot in the world of cryptocurrency exchanges.