Bitfinex, a major digital currency trading platform based in the British Virgin Islands, announced today that it has added three new currency spot pairs against Tether tokens (GBP/USDt, GBP/EURt and JPY/USDt).
The exchange said that the new margin trading service aims to improve its stablecoin offerings to enable it to remain consistent with user demand and market evolution. The new service would, therefore, enable Bitfinex investors to conduct leveraged trades for the trading pairs. This means that customers will be able to borrow money from the platform to exchange USDt and EURt, GBP and USDt, GBP and EURt, and JPY and USDt.
Bitfinex mentioned that the addition of the new trading pairs is in line with its stated commitment to providing a ‘coin agnostic platform’.
By enabling such trading pairs, Bitfinex is working to position itself as a full-feature spot trading platform that equips its customers with a wide variety of order types that they can take advantage of.
Paolo Ardoino, the Chief Technology Officer at Bitfinex, commented: "We’re delighted to announce the addition of GBP/USDt, GBP/EURt and JPY/USDt to the trading pairs available on the exchange. We anticipate great interest in these products, particularly among funds and professional investors for hedging purposes and Forex hedging."
Helping Build the Global Economy and Better Future
Established in 2012, Bitfinex continues to offer easier access to capital and financial services. In October last year, the exchange tapped the services of Simplex, a subsidiary of Nuvei, to provide crypto on-ramp functionalities to its customers. Bitfinex integrated the funding options supported by Simplex to enable its users to buy digital currencies using credit and debit cards.
In September last year, Bitfinex launched its own securities token platform to enable investors to have access to plenty of investment assets like Blockchain-based equities and bonds, among others. In March last year, the exchange integrated its trading platform with ClearLoop, an off-exchange settlement and clearing network, to enable institutional investors like hedge funds and asset managers to engage with digital assets like Bitcoin and other cryptocurrencies.
More than 30% of the world's population does not have access to basic banking services like loans or checking accounts, which can help them out in case of a personal financial crisis. Bitfinex trading platform facilitates the use of cryptocurrencies and brings them closer to a wider audience. An added benefit of cryptos is that they are pocket-friendly, completely decentralized, and their trading can be done freely across borders.
