Bittrex To Add Fiat Support For Ethereum Classic (ETC) and XRP
Bittrex Introduces Plan To Add ETC/USD and XRP/USD Trading Pairs
On Wednesday, Bittrex, one of the foremost exchanges in the cryptosphere, announced that it would be “rolling out more USD (trading pairs).” This news comes after the exchange’s move to begin offering fiat support, which many community members saw as a long time coming for such an influential exchange.
The Seattle-based startup added that this recent announcement is in-line with its so-called “phased approach” to fiat support, whereas Bittrex adds more markets (trading pairs) and customers over time rather than all at once, which may help to reduce stress on Bittrex employees and systems.
Explaining the reasoning behind the addition of USD markets, Bittrex’s communications team wrote:
“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.”
As well, it was added that the Bittrex team sees this as a step towards the growing the adoption and acceptance of blockchain technologies all across the world.
In the aforementioned post, it was added that Bittrex will be adding Ethereum Classic and XRP support by August 20th, with these two additions joining the company’s exclusive lineup of four other fiat-supported cryptos, which are BTC, ETH, USDT, and TUSD.
With this move, Bittrex will become one of the first exchanges to support a USD/XRP pair, which many see as an ambitious move, as it remains to be seen whether XRP is classified as a security by U.S. regulatory bodies.
For now, not all users will be able to buy these cryptos with fiat, as Bittrex has only enabled this new feature for customers “who reside in eligible states and qualified international regions” and who hold the required documental prerequisites. Bittrex currently has a daily volume figure of approximately $80 million, which is by no means a figure to scoff at.
Ethereum Classic Proponents Rejoice
While the market isn’t looking all too healthy, instances of positive news surrounding Ethereum Classic remains at an all-time high. This piece of Bittrex news comes alongside similar announcements made by Coinbase and Robinhood, who also recently integrated Ethereum Classic into their respective crypto trading platforms.
More on Coinbase’s move to list ETC, today came with Coinbase Pro seeing the successful launch of the ETC-USD order book through, with fully-fledged trading features being now available for the platform’s expansive customer base.
While Ethereum Classic is posting a 13% loss today, many investors see the aforementioned news as long-term bullish signals, as the implementation of this asset onto some of the world’s most prominent platforms will only boost adoption and real-world use in the near future.