In Friday’s edition of The Daily, we look at Bitsane’s decision to list tether (USDT) and trade it against the euro. We also cover two other recent announcements in the crypto-space. Digital asset trading platform Covesting is launching operations in Gibraltar, where it has obtained a distributed ledger technology license. And Swissone, a Zug-based digital asset management company, is establishing a regulated tokenized fund.
Also read: Coinbase Blesses Binance, Game Day for BCH
Bitsane to Trade USDT Against the Euro
European cryptocurrency exchange Bitsane has announced that it’s listing tether (USDT). The stablecoin will trade on its platform in pairs with a number of cryptocurrencies, including BCH, BTC, ETH, LTC, XRP, DASH, DOGE, ETC and REP. Launched as a fiat alternative backed by the U.S. dollar at a 1-to-1 ratio, USDT is usually traded against the greenback. However, Bitsane now offers the option to exchange the cryptocurrency with the euro.
The Dublin-based digital asset trading platform was established in November 2016 and has since signed up around 240,000 users. The exchange currently processes about 25,000 transactions per day and has a daily trading volume of approximately $6 million.
A number of alternatives to tether have recently hit the market. Some of the more notable examples of these new stablecoins include the gemini dollar (GUSD) and paxos standard (PAX), both of which are ERC20 tokens backed 1-to-1 with U.S. fiat currency. Circle’s USDC is another stablecoin that will soon be listed on leading cryptocurrency exchange Binance.
Covesting Opens Crypto Exchange in Gibraltar
Covesting, another cryptocurrency exchange based in Europe, has announced a soft launch of its new trading platform in Gibraltar. The company recently secured a distributed ledger technology (DLT) license from the authorities in
