Bitfinex – one of the leading crypto trading exchanges on the ecosystem has added more trading pairs and traditional currencies. The platform announced on its blog post on March 29 that the number of fiat currencies the firm accepts will increase with the Japanese Yen and British Pound Sterling.
With the additional trading pairs, users from UK or Japan will be able to use their currency against cryptocurrencies like ETH, EOS, NEO and IOTA which previously were exchanging hands only against USD or BTC:
- BTC – BTC/JPY & BTC/GBP
- ETH – ETH/EUR, ETH/JPY & ETH/GBP
- NEO – NEO/EUR, NEO/JPY & NEO/GBP
- EOS – EOS/EUR, EOS/JPY & EOS/GBP
- IOTA – IOTA/JPY & IOTA/GBP
However, many digital currency assets which are among the leading ones out of the list by market capitalization like Ripple [XRP], Litecoin [LTC] or Monero [XMR] still are only available to be used against USD or BTC with no other option for the users of Euro, GBP or Yen.
As highlighted by the company, the development came to support better under-served markets in an international scale. The ability to deposit and withdraw in JPY and GBP further aids this commitment. The movement by the exchange platform, as mentioned in the post, will add more liquidity on the exchange and market as a whole.
“We are very pleased to add to our selection of fiat offerings and to do our part in making cryptocurrencies more globally accessible. We are making a strong push for improved transparency and worldwide regulatory collaboration, and our ability to add support for these markets is a strong win on that front.” – JL van der Velde – CEO of Bitfinex
The announcement was released only a day after it reported that the firm is transferring its HQ to Switzerland has the key members of the Swiss gov have already held a meeting with Bitfinex for the movement. The strongly growing community of the central European state did also accordingly showcase bullish sentiment and optimism about the potential move of one of the leading crypto-exchange to be set on Swiss.
“It would be sensational if an actor of this size and importance should decide for Switzerland, It would show that Switzerland can indeed occupy a leading position in the entire blockchain industry.” – Local crypto entrepreneur.