Bittrex will start to allow US Dollar trading AKA 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).
That means corporate customers (institutional investors) will be able to swap out Bitcoin, USDT, and TUSD with fiat, which indirectly means they can trade fiat for any crypto traded on Bittrex (since all cryptos on Bittrex trade for Bitcoin, USDT, and/or TUSD.
That is a big step as Bittrex is a US company with a wide array of cryptos for trade that are not accessible on any other exchange that trades in fiat (like Coinbase or Kraken).
This is, especially if it expands to retail clients, a really big deal.
We offer one of the biggest selections of innovative tokens available around the globe. Today we announce the introduction of US Dollar (Fiat) trading for approved corporate customers, followed by all qualified customers as we roll out additional phases. https://t.co/LBGlo9QDdB
— Bittrex (@BittrexExchange) May 31, 2018
- Bittrex Announces Introduction of US Dollar (Fiat) Trading. Prnewswire.com.