Bittrex is planning to introduce new fiat trading pairs against XRP and Ethereum Classic (ETC). The information has been released on Wednesday, some weeks after it unveiled that it was integrating fiat support.
The exchange is in an expansion plan in which it adds more markets to its platform, including fiat pairs, in the next few months. Bittrex Expansion includes ETC and XRP
The exchange explained about its decision of adding new USD markets:
“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.”
This time, Bittrex decided to add Ethereum Classic and XRP by August 20, 2018. In this way, there will be different cryptocurrencies traded for fiat, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and TUSD.
In this way, Bittrex becomes the first cryptocurrency exchange to support USD/XRP trading, an important move that will have consequences in the crypto community. XRP has not yet been classified by the U.S. Securities and Exchange Commission as a security. Indeed, the regulatory body will have to provide clarity on the matter.
Not all the users will be able to purchase these assets using fiat currencies, the new features enabled by the exchange are first available to customers that reside in ‘eligible states and qualified international regions.’ Furthermore they have to present all the required documental prerequisites.
At the moment of writing this article, Bitfinex is the 25th most important cryptocurrency exchange according to its trading volume, moving $55 million dollars in the last 24 hours. The most important trading pairs at the exchange are BTC/USDT, ZCL/BTC and ETC/BTC, accounting for over 26% of the total volume at the platform.
Ethereum Classic is now being traded around $15 dollars and has a market capitalization of $1.56 billion dollars. In terms of BTC is operating stable since October 2018. Currently it is trading around $0.00233 BTC.
In the last weeks, ETC has been receiving important support from different platforms including Coinbase, that has decided to add the cryptocurrency to its system.
XRP is the third most important virtual currency in the market with $13.6 billion dollars. Each XRP coin can be bought for $0.34 dollars.