Cryptocurrency exchange Bittrex is set to roll out US Dollar trading pairs for XRP and Ethereum Classic, in a move that will make the currencies far more attractive for US customers, which as we know, does great things for the promise of cryptocurrency adoption.
This announcement comes after a recent overarching announcement with regards to Bittrex receiving permission to add many more FIAT trading pairs, promising to allow the exchange to grow through an increase in listings and offerings. According to Cryptovest, Bittrex have recently made the following statement:
“As we continue expanding fiat markets to the top tokens on Bittrex, we’re not only offering customers a streamlined experience to purchase digital coins on Bittrex directly with US dollars, but we’ll also be offering customers USD trading pairs that may only be found on our platform.”
Furthermore, according to Cryptovest:
“After expanding the fiat pairs, Bittrex will become one of the few exchanges offering a fiat off-ramp for selling crypto assets, depending on user verification. The addition of XRP means the asset will be even easier to acquire for cash, potentially leading to its appreciation. Bittrex is one of the older exchanges fighting to regain ground lost. The market lists a unique array of coins and tokens, some of them unavailable on other platforms. The exchange is the fifth richest Tether wallet, with more than 180 million USDT injected in trading.”
This is important for XRP and ETC
As Bittrex grows, it seems that they want XRP and ETC to be at the fore of this growth. As altcoins with growing popularity, it is important that XRP and ETC can see offerings like this, in order to allow their own options to grow too. Overall, it’s good news all around.
As it stands though, this announcement has had little impact on the value of both XRP and ETC. At the time of writing XRP is up 3.64%, and ETC is up 0.64%. These climbs are just part of the organic market trend though, therefore no spikes will be seen from this announcement.