Bittrex, the Seattle-based cryptocurrency trading platform, on Thursday announced the start of USD fiat trading for corporate customers, with plans to expand the service over time to include all qualified customers.
Fiat trading will initially be available for Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD). The fiat trading program will be rolled out in phases to ensure quality control and an optimal customer experience, with approved corporate customers from qualified states and international regions coming online in the initial phase.
Bittrex CEO Bill Shihara stated, “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. 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.”
Bittrex aims to advance the blockchain industry by providing additional trading options that current and potential customers want, while adhering to the highest standards of compliance, security, and working to support innovative projects, according to the statement.
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.”