HitBTC, one of the largest and most used virtual currency exchanges will be supporting the recently launched Gemini Dollar (GUSD). Back on September 20, the crypto exchange Gemini launched GUSD, a stablecoin linked to the US dollar. The cryptocurrency backed by the Winklevoss Twins aims to be completed regulated and be the digital representation of the US dollar.
GUSD Listed on HitBTC
The GUSD stablecoin has received support from one of the most important players in the crypto market. HitBTC will be listing the new GUSD token in the near future. According to a recent Tweet made by HitBTC, the company has opened the doors to the new stablecoins.
The tweet released by HitBTC reads as follows:
“HitBTC strongly supports the concept and philosophy of stablecoins. And today we’re happy to open markets for the Gemini Dollar ($GUSD), on HitBTC.”
The stablecoin would be available to be traded against different pairs such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and EOS. These are some of the most valuable virtual currencies in the market. Tether is also another stablecoin that has been involved in different controversies during the last year.
With this stablecoin, the Winklevoss Twins want to offer a bridge between the crypto and the fiat world. Investors in the cryptocurrency market had troubles to link both markets since there weren’t enough tools available. However, this is now changing.
Moreover, at the beginning of the month, the famous twins announced that the stablecoin was going to be listed on Bibox. This platform works with artificial intelligence and provides trading services for clients.
The platform announced:
“The Gemini dollar is now global. Bibox has announced plans to list the Gemini dollar.”
In addition to it, Gemini will be listing Litecoin (LTC) on its platform in the near future. This shows that the exchange is working in order to improve the overall crypto market.
Stablecoins would help investors to reduce their exposure to volatility. Additionally, they can be sure that it is fully regulated and audited by independent companies. This would also provide greater safety for users and investors.
HitBTC is the 7th largest cryptocurrency exchange in the market with a trading volume of $422 million dollars in the last 24 hours.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.