American cryptocurrency exchange Bittrex entered into an agreement with new York Bank Signature Bank, under which the trading facility will conduct operations with the U.S. dollar. Now as the equivalent of the dollar on the exchange token is used USDT.
According to representatives of Bittrex, the partnership will allow enterprise customers in some States to buy cryptocurrency for dollars, which will help the marketplace to attract more users.
Executive Director Bittrex bill Shihara stressed that major financial institutions involved strict government regulations against money laundering and customer validation, basically avoided to put his reputation at risk, by getting involved in the industry, which many still associated with criminal activity. As a result, most of the cryptocurrency exchanges allow customers trade exclusively in cryptocurrencies.
«Cooperation with the Signature Bank will show not only the trust that the financial institution can have exactly the stock exchange Bittrex – it is about that the banks can trust cryptocurrency in General, he said. – I think that she really is turning into the mainstream.»
For this purpose, the largest American cryptocurrency company Coinbase has established ties with American Cross River Bank, Metropolitan Bank and Silvergate Bank, and British Barclays.
Trade on Bittrex dollars will be available in pairs with BTC, USDT and TrueUSD. Initially, the possibility of trading in dollars will be available for corporate customers from Washington, California, new York and Montana. In the future the company promises to provide and individual investors.
Services exchange Bittrex are almost 3 million people. Only on the platform are about 200 different digital assets.