BitFinex Flags Fiat Expansion, Adds Support for GBP, JPY

Chinese crypto exchange also adds new crypto-fiat pairs.

by Coins.Online
29 March • 1 min
In News

Hong Kong-based BitFinex, one of the world’s largest cryptocurrency exchanges by volume, said on Thursday its platform is now supporting two more fiat currencies to make deposits and withdrawals with, namely British pounds (GBP) and Japanese yen (JPY), which come in addition to US dollars (USD) and euro (EUR).

“This is a marked expansion of our service offering to cater for a growing global trading community and increased engagement with a number of international monetary markets,” the exchange said in a statement.

bitfinex-logo1a

BitFinex announced also the addition of new crypto-fiat pairs to its trading platform, hoping to boost its liquidity. Users are now able to trade Bitcoins (BTC), Ether (ETH), NEO, EOS, and IOTA for GBP and JPY. Moreover, the possibility to exchange ETH, NEO, and EOS for EUR has also become available, while it has been present for some time for BTC and IOTA.

BitFinex expects that the introduction of a greater number of crypto-fiat trading pairs will reduce the reliance on BTC as a medium of exchange and will reduce the associated costs of trading digital assets.

BitFinex offers about a hundred trading pairs, enabling the exchange of a number of altcoins for USD, BTC and ETH.