Bitstamp Explores Support for Seven More Cryptocurrencies

Bitstamp, one of the largest crypto platforms in Europe, has announced its plans of supporting a new set of digital assets, which includes Circle's Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term and six others.

This set of assets, according to Bitstamp, must be compliant with jurisdictional regulations and local laws, as well as strict technical, safety, and compliance reviews. The assets in view include Basic Attention Token (BAT), Ethereum Classic (ETC), Paxos Standard (PAX), USD Coin (USDC), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).

As per its blog relating to the announcement, Bitstamp said it is taking this step in order to fulfill its mission of supporting all its customers' desired assets which meet the platform's standards and also comply with their respective local laws.

"As part of this exploration process, you may see signs of engineering work on our platform related to the assets listed above. We cannot guarantee that this will result in any new listings and it does not disqualify any other assets from being monitored for possible support at Bitstamp," it added.

Bitstamp handles over $120m in crypto transactions

Bitstamp has recently added Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term security firm BitGo as a custody provider to help securely store their digital assets. In working with BitGo, Bitstamp customers will have access to a qualified custodianship that carries $100 million in insurance.

The deal also gives a further boon to Bitstamp's operations in the US after the company has recently secured BitLicense from the New York Department of Financial Services (NYDFS), which allows the exchange to offer trading on crypto pairs to the state's residents.

Bitstamp celebrates its ninth year in operation, making it the longest-running crypto venue in a sector plagued by hacks and exit scams. The exchange is currently ranked 61 in terms of total trade volume, ‎according to the latest data provided by CoinMarketCap.‎

In 2016, Bitstamp received a publicity boost after it obtained a ‎license to operate as a fully regulated payment institution (PI) in ‎Luxembourg. At the time, Bitstamp touted the license as a factor that ‎enables it to become the first fully licensed cryptocurrency exchange in ‎Europe.‎