Leading cryptocurrency exchange Bittrex has announced that it is expanding its fiat-pair offerings - adding ETH-USD trading to its platform.
Outlining their strategy on their blog, the Seattle-based exchange explained that they are “using a phased approach for adding markets and customers,” meaning that the new USD pairings will initially be available to certain clients in four states in the US: Washington, California, New York and Montana.
The blog makes clear however, that the exchange soon intends to expand to retail customers in other states as well.
With fiat-trading a significant milestone in helping cryptocurrency adoption in general, Bittrex CEO Bill Shihara emphasised how important this development might be in helping with mainstream acceptance:
Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity.
Busy Period for Ethereum
This important announcement for Ether comes after another signficant milestone for the world's second biggest cryptocurency after it was announced last month that London-based exchange Crypto Faciliities will be launching the world’s first ethereum futures.
With Ether currently trading at $524.23 according to CryptoCompare, it remains to be seen whether these developments can help the cryptocurrency push to new highs after a prolonged bearish market.