US-Based Crypto Exchange To Offer Fiat Trading Pairs
Bittrex – the Seattle-based cryptocurrency exchange – has unveiled plans to let investors buy a plethora of digital assets using US dollars.
In the past, the process of buying lesser-known cryptocurrencies was difficult to say the least. If an investor wishes to buy cryptos not currently offered on major fiat-to-crypto exchanges, they are forced to buy a select few currencies, send them to a different exchange, and trade them for the currency of interest.
Major US exchanges – such as Coinbase – only allow investors to buy a handful of cryptos, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, due to regulatory uncertainty.
“We think that solving the regulatory puzzle in the United States really unlocks a lot of capital that really can’t trade on a foreign exchange that doesn’t have proper [anti-money laundering] controls or proper compliance,” Bill Shihara, Founder and CEO of Bittrex, said.
Launched in 2014, Bittrex offers some-200 different cryptocurrencies. Such an offering will likely allow for greater liquidity, improve participation in the cryptocurrency market, and possibly break the price correlation between digital assets.