Cryptocurrency exchanges Bitfinex and Ethfinex now support trading for all six of the market’s major stablecoins. Adding to its support for MakerDao’s Dai and Tether’s USDT, the sister platforms recently listed USD Coin (USDC), TrueUSD (TUSD), Paxos Standard Token (PAX) and Gemini USD (GUSD). All stablecoins available on the exchanges will be traded against the U.S. dollar.Launched in 2018, Ethfinex is Bitfinex’s ERC-20 exchange arm. Built for trading Ethereum tokens, the exchange is centralized at the moment, but the team plans to transform it into a decentralized exchange in the future. Bitfinex made the announcement in a December 4, 2018, blog post stating:“From today, customers of Bitfinex and Ethfinex will be able to trade all six major stablecoins on both exchanges. At Bitfinex and Ethfinex, we’re dedicated to providing a high quality, unbiased meeting place for every ecosystem and customer,” the post reads. Bitfinex’s promise to remain “unbiased” is notable given the exchange’s intrinsic ties to Tether. Both Bitfinex and Tether share a CEO, and the interoperations between both entities, which critics have regarded as opaque, have called Tether’s credibility into question, paving the way for the competing projects that Bitfinex has just listed. One of the biggest issues stemming from the cryptocurrency space is volatility. Many digital assets are known for experiencing wild price swings that can c...
