Bitfinex launches trading in 12 Altcoins including Tether Competitor

Bitfinex announced the launch of 12 new ERC-20 tokens. Among the tokens listed is Dai – a stable coin competitor to Tether. Newly supported altcoins include Aion (AION), Iostoken (IOST), Request Network (REQ) and Raiden Network (RDN).

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Bitfinex announces trading pairs for 12 new altcoins

Bitfinex launches trading in 12 Altcoins including Tether CompetitorOn April 7th, Bitfinex announced the introduction of 12 new Altcoins on its trading platform via Medium. All new tokens are ERC-20 tokens (the technical standard for smart contracts hosted on the Ethereum blockchain).

The newly supported Altcoins are Aion (AION), Iostoken (IOST), Requirement Network (REQ), Raiden Network (RDN), Loopring (LRC), Bnktothefuture Token (BFT), (CFI), Wachs (WAX), Singularitynet (AGI), Medicalchain (MTN), Odem (ODEM) and Dai (DAI).

BTC, ETH and USD trading pairs for the newly supported Altcoins went live on April 7th at 16:00 UTC. Bitfinex’s announcement states: “The newly introduced token listings have a combined market capitalization of USD 1.1 billion + USD.” Margin trading and credit markets for the new tokens will be “activated gradually as liquidity develops”.

Notable listings include Dai and Bnktothefuture

Bitfinex launches trading in 12 Altcoins including Tether CompetitorOne of the newly listed ERC-20 tokens is Dai, “a digital, decentralized stable coin based on Ethereum”. Dai’s listing is significant as the project appears to be in direct competition with the big stablecoin Tether, who has the same directors as Bitfinex. The exchange stated that “Dai will initially be available against BTC, ETH and USD as we examine the possibility of adding additional DAI pairs.”

The listing of Bnktothefuture tokens is also noteworthy, as Bnktothefuture apparently owns shares in Bitfinex. Bnktothefuture was also involved in the controversial conversion of BFX tokens into equity in Bitfinex after the devastating hack the exchange suffered in 2016. On August 22, 2016, Bitifinex “officially signed a letter of intent with Bnktothefuture […] Offer solutions to compensate customers with Bitfinex equity. “

Bitfinex Chief Executive Officer Jean-Louis van der Velde stated: “The introduction of such a wide range of tokens representing a wide variety of blockchain-based projects is an exciting development for Bitfinex. We are proud to introduce these as we believe that each token serves to empower and invigorate a unique aspect of the global blockchain ecosystem, offering our users new and exciting trading options. “

Mr. Velde added: “We are happy to go the extra distance to meet the needs and expectations of our dealers. Looking ahead, we will continue to expand our service offering to best meet their needs and maintain a progressive and supportive trading platform for the growing digital asset community. “

Do you think Bitfinex’s decision to list Dai matters? What could Dai’s listing on Bitfinex mean for Tether’s future? Share your thoughts in the comments section below!

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12%, Altcoins, BitFinex, BnkToTheFuture, DAI, ERC20, Introduces, N Markets and Prices, Tether, Trade, USDT

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