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Major crypto exchange Bitfinex has listed two new currencies as of today: Stellar (XLM) and Verge (XVG). Both currencies are in the top 30 coins with Stellar in 8th place boasting a market cap of $8 billion while trading at $0.431 and Verge in 23rd place valued at $1.2 billion and currently trading at $0.08.
Trading is now live for XLM and XVG.
Both pairs can be traded against BTC, ETH, USD, EUR, GBP & JPY.
— Bitfinex (@bitfinex) May 1, 2018
The Hong Kong exchange issued a press release discussing the addition of the two major currencies earlier today.
“Adding Stellar and Verge to our platform underlines our commitment to extend the reach of Bitfinex traders to the most exciting investment opportunities in the space,” said Jean-Louis van der Velde, CEO of Bitfinex, in an announcement. “With a stellar combined market cap of $9+ billion, these elite tokens bolster our growing array of tokens as we continue to anticipate the needs and demands of the digital asset community.”
The exchange is reportedly planning to move from Hong Kong to Switzerland to encourage growth in a more positively-regulated environment, and is obviously expanding operations in the meantime – the recent announcement follows the addition of 12 new currencies over the last month.
“Today’s announcement continues the strong wave of activity within the Bitfinex community, following the addition of 12 new tokens to our platform earlier this month. We look forward to maintaining this positive momentum in the weeks and months ahead.”
Verge is a privacy token that recently made headlines for their partnership with Pornhub, while the $8 billion Stellar project aims to connect financial systems and create a platform to allow low-cost creation of financial services like payments, savings, loans, and insurance.
Bitfinex will open up XLM and XVG to more potential investors, offering BTC, ETH, USD, EUR, GBP and JPY as trading options. Bitfinex offers a number of advanced trading features and charting tools, as well as OTC and margin trading. The exchange was founded in 2012 and is now the fifth-largest exchange in the world with over $1 billion in trading volume over the last 24 hours according to coinmarketcap.com.
The move to Switzerland may well allow even further growth, as Hong Kong regulators have voiced concerns over the crypto space and ICOs in particular. However, today’s announcement that Bitcoin has no visible impact on financial crime is seen as a more positive outlook that could spell a more open-minded approach towards exchanges like Bitfinex as well as the cryptocurrency space in general in the future.
Featured Image from Shutterstock
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