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Bitcoin in Review Going into 2020
We’ve Added More of Everything
Today eToroX announced an increase in the number of available trading pairs on the eToroX Exchange of a substantial 30%, following the addition of five new fiat stablecoins, a new cryptoasset, two further established stablecoins and a crypto-commodity pair, signalling its rapid growth, having only launched only six months ago. There are now 26 tradable assets available on the exchange, offering access to even more instruments for institutional traders.
Five New Stablecoins
The five new stablecoins are Turkish Lira (TRYX), Polish Zloty (PLNX), South African Rand (ZARX), Hong Kong Dollar (HKDX), and Singapore Dollar (SGDX). Two further and highly popular stablecoins — Circle’s USDC and Tether’s USDT — have also been added to eToroX Exchange, as well as the peer-to-peer, blockchain-based cryptoasset, Dash. These new additions are more evidence that we are remaining true to our promise to fully support the needs of Algo Traders who seek to diversify into cryptoassets, and shows our focus on the Asian markets.
“We see the addition of USDC and USDT as a way for eToroX to further meet the needs of professional and institutional-grade Algo Traders, particularly in the Asian markets.” commented Doron Rosenblum, Managing Director of eToroX. “eToroX is always happy to be able to announce further tradable assets on the Exchange, and adding five new stablecoins, plus the addition of the Dash cryptoasset, demonstrates our ongoing commitment to bridge the gap between the Blockchain and traditional financial markets.”
One of the more interesting elements about this is that GoldX (the tokenized Gold stablecoin) is now available as a base currency for a trading pair with Bitcoin (GOLDX/BTC). Bitcoin is often compared with Gold, an asset widely regarded as a safe haven, since both are used as a store of value. This has been the case with Gold since time immemorial, while Bitcoin, a far newer prospect, is perceived by many as the digitized equivalent of Gold for the future.
Rosenblum continued: “Our Gold/Bitcoin pair is providing access to trade between the old and new stores of value, making Gold/BTC an extremely special and interesting combination.”
The new pairs that make up this 30% increase include: USD/ZARX, ZARX/JPYX, EURX/PLNX, USD/PLNX, USD/HKDX, USD/TRYX, USD/SGDX, ETH/USDT, XRP/USDT, LTC/USDT, BCH/USDT, XLM/USDT, BTC/USDC, ETH/USDC, XRP/USDC, LTC/USDC, BCH/USDC, and XLM/USDC.
Counting the new additions, eToroX has added a total of 92 trading pairs since its inception in April of this year, and currently offers seventeen separate eToroX stablecoins as well as USDC and USDT, setting the trading stage for professional and institutional-grade algo traders.
More to Come…
Watch this space for more announcements about further new trading pairs, with additional crypto base currencies pegged to fiat counter currencies, as well as the launch of more new cryptoassets and stablecoins over the coming months.