Bittrex, a US-based Crypto trading platform is launching USD pairs for Zcash [ZEC] and Cardano [ADA]. Users of Bittrex can purchase ZEC and ADA directly starting from September 5.
Bittrex had announced that back in May that they will be adding Fiat pairs to various Cryptocurrencies, Bittrex has a Crypto to Crypto trading platform right from its inception until recently.
Bittrex initially had introduced fiat pairs for Bitcoin [BTC], Ethereum (ETH), TrueUSD (TUSD) and Tether (USDT). Earlier this month Ripple [XRP] and Ethereum Classic [ETC] were the new additions for USD markets.
USD pairs for Zcash were first added by US-based Gemini exchange led by the Winklevoss twins which cleared the path for other exchanges as there was uncertainty as to whether privacy coins like Zcash would be a violation of the law. But as Zcash has a privacy feature which is optional unlike Monero, exchanges can enable only the transparent transactions.
We’re rolling out more USD pairs. On Sep 5 we’re launching US dollar (USD) markets for Cardano (ADA) and Zcash (ZEC). Eligible #Bittrex accounts created before August are already enabled for USD trading. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/pzCry5OdTr
— Bittrex (@BittrexExchange) August 29, 2018
It is also interesting to note that both Zcash and Cardano are being explored to be added to Coinbase which is the largest exchange in the US. The addition of these coins to Bittrex could be a tell-tale sign that they are likely to be listed on Coinbase. Other coins which are being explored by Coinbase are Basic Attention Token [BAT], Stellar [XLM] and 0x [ZRX].
Bittrex has over 200 Cryptocurrencies on its platform, it can be expected that more USD pairs will be added eventually for tokens that they expect not to be securities.
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