The company will use a phased approach, starting with corporate customers
SEATTLE, May 31, 2018 /PRNewswire/ -- Bittrex, the premier U.S.-based blockchain trading platform, today announced that it is offering US dollar (fiat) trading for corporate customers and plans to expand these services over time to include all qualified customers. The initial markets for fiat trading on Bittrex will include Bitcoin (BTC), Tether (USDT) and TrueUSD (TUSD).
"As an incubator and leading advocate of blockchain technology, Bittrex is committed to listing tokens that not only have the best business applications, but also are the most innovative blockchain projects in the world," said Bittrex CEO Bill Shihara. "Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity."
Shihara continued, "Corporate customers are only the beginning because we also plan to extend fiat to our retail customers and many of our service providers who build on the Bittrex platform. In addition, today's fiat announcement is the first step in the next evolution of our business, as we're continuing our expansion, both locally and globally, through new services and strategic partnerships."
Adding fiat to the wide variety of innovative tokens and coins listed on Bittrex further advances the blockchain industry by providing convenient, fast and secure access to additional trading options that current and potential customers want. In addition, the company's commitment to security, compliance and incubating innovative projects should provide both customers and blockchain teams confidence in the long-term growth of the platform.
For the fiat trading program, Bittrex is implementing a phased rollout to help establish quality control for the new markets and ensure customers have the highest level of service possible. The first phase, beginning today, enables fiat trading for approved corporate customers in qualified states and international regions. Bittrex will continue to rollout each additional phase to expand the fiat trading to all qualified customers over time.
Initially, fiat trading will be limited in the United States to customers located in Washington State, California, New York and Montana. Qualified international customers may participate in the markets as well. Customers will be required to submit to both the standard registration process - including proof that they are operating in qualified U.S. or international regions - as well as other specific fiat terms and conditions.
New corporate customers who want to participate in the fiat market should fill out our corporate account request form, and current corporate customers should apply for fiat trading by completing the fiat trading enablement request form. Once additional phases are rolled out, Bittrex will provide fiat trading instructions for all customers.
Founded in 2014 by three cybersecurity engineers, Bittrex is the premier U.S.-based blockchain platform, providing lightning-fast trade execution, dependable digital wallets and industry-leading security practices. Our mission is to help advance the blockchain industry by fostering innovation, incubating new and emerging technology, and driving transformative change. Bittrex, Inc. is not a regulated exchange under U.S. securities laws. Learn more at www.Bittrex.com.