Bitfinex, a state-of-the-art digital token trading platform, has enabled its users to deposit and withdraw Tether tokens (USDt) on Kusama, a scalable network of specialized blockchains.
The launch of USDt on Kusama will further expand its reach to ten different chains including Ethereum as it cements its position as the largest stablecoin by market capitalization. Kusama is built using Substrate, an off-the-shelf blockchain solution from Parity Technologies, a blockchain infrastructure provider.
Paolo Ardoino, CTO at Bitfinex, said:
"With USDt available on Kusama, it opens up another highly progressive blockchain to tether token holders. Kusama has a vibrant ecosystem of projects testing and innovating ideas that have the potential to make significant contributions to the emerging Web3 paradigm."
USDt is supported by numerous e-commerce platforms and payment gateways, and already provides faster payment as compared to credit and debit cards, and traditional payment systems.
Bitfinex is leveraging its position as one-stop shop for crypto trading offering a variety of services, including margin trading with up to 10x leverage.
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Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex's strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
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