Seed CX, an important Chicago-based cryptocurrency exchange, announced on May 14 it plans to add 3 new stablecoins to its platform: Paxos (PAX), USD Coin (USDC) and TrueUSD (TUSD).
Users will be able to trade these three stablecoins in pairs with the U.S. dollar starting tomorrow. In addition, the platform has reported that it intends to add more trading pairs in the near future with other traditional currencies, such as the euro.
Edward Woodford, the exchange CEO, has said the following:
"Stablecoins are important in the ecosystem as they increase the velocity of movement of fiat equivalent assets 24/7 and had been requested by a number of our trading participants."
Why it is important
- Due to the growing importance of stablecoins among users, major crypto exchanges are adding support for this new type of tokens. For example, Blockchain wallet added support for Paxos earlier this month, while OKEx listed four stablecoins in October last year.
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