Bitfinex Listed 12 New Tokens For Trading Including Tether’s Competitor

Bitfinex Introduces Trading for 12 Altcoins Including Tether Competitor

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  • Bitfinex exchange added twelve new tokens to trading platform.
  • The listing of two of the tokens seems significant.

Crypto World: Bitfinex, one of the leading cryptocurrency exchanges with headquarters in Hongkong, has recently announced the addition of twelve new tokens on its trading platform. Bitfinex exchange made this announcement on April 7, through Medium. All the newly listed altcoins: Loopring (LRC), Bnktothefuture Token (BFT), Aion (AION), Iostoken (IOST), Singularitynet (AGI), Medicalchain (MTN), Odem (ODEM), Request Network (REQ), Raiden Network (RDN), (CFI), Wax (WAX), and Dai (DAI) are ERC-20 tokens. Bitcoin, Ether and US Dollars trading pairs for the just listed tokens went live on April 7, exactly 4 pm (UTC).

Also read: Twitter Inc. Suspends Bitcoin Cash (BCH) Promoting Account

The announcement made by Bitfinex shows that:

“The newly introduced token listings have a combined market capitalization of $1.1B+ USD.” Margin trading and lending markets for the new tokens “will be enabled gradually, as sufficient liquidity develops.”

The listing of Dai, “a digital, decentralized stablecoin built on Ethereum”, among the 12 tokens seems significant as Dai is a direct competitor of Tether, a major stablecoin sharing the same management as Bitfinex. However, Bitfinex said that:

“Dai will initially be made available against BTC, ETH, and USD whilst we explore the possibility adding additional DAI pairs.”

Supporting Bnktothefuture Token (BFT) is also significant, as BF seems to own a substantial number of shares in Bitfinex. More so, BF was involved in the debatable conversion of BFX tokens into equity in Bitfinex after Bitfinex was hacked in 2016. On 22nd August 2016, the exchange

“formally signed a letter of intent with Bnktothefuture […] to provide solutions towards compensating customers with equity in Bitfinex.”

Jean-Louis van der Velde, Bitfinex’s CEO said:

“The introduction of such a large selection of tokens, representing a diverse array of blockchain-based projects, marks an exciting development for Bitfinex. We are proud to introduce these as we believe that each token serves to strengthen and enliven a unique aspect of the global blockchain ecosystem and will offer new and exciting trading options for our users.”

Jean-Louis added:

“We are excited to be going the extra distance to accommodate the needs and expectations of our traders. Looking forward, we will continue to expand our service offerings to best address their needs, and to maintain an advanced and supportive trading platform for the growing digital asset community.”

In your own opinion, is the listing of both Dai and Bnktothefuture significant? Can you say that Dai’s listing on Bitfinex may have an effect on Tether’s future? Tell us in the comment box below.

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