Bittrex’s Move to End Tether: Will Accept USD Payments in the Future

Bill Shihara, CEO of Bittrex, said that the US-based exchange will start accepting USD-based payments and will likely abandon Tether.. Shihara also addressed the very high demand:

“One day we’ll reopen global registrations, making sure that people who come (to the stock market) know what they’re doing, with extra requirements for trading and minimum deposit limits, of course. I don’t think this day is too far away… there is incredible demand.”

The stock market currently only trades in cryptocurrencies. The main trading pairs of cryptocurrencies on the exchange are Bitcoin and Tether. However, this may change in the future.. Shihara said businesses focused on individual investors are using Bittrex’s interface to reach wider audiences:. It uses our liquidity but is actually a retail shop in Korea. We built this back-end infrastructure and Upbit can easily connect and build on it.. We’ll see more deals like this in the coming year. We will also trade USD (but) this will not be public. It will be open to the majority of our audience and to our foreign partners who are developing through us.”

These statements came just as the suspicion surrounding Tether was intensifying.. Tether allegedly increases the prices in the crypto money market “artificially”, and does not support the USDTs it uses with dollars.. This means that the end of exchanges that rely on USDT may be at the hands of Tether.. When asked if she was worried about the allegations against Tether, Shihara said:

“Tough question, we’re treating it like it’s a different altcoin.. (Tether) The market thinks it’s backed by something because it acts as a backup for the dollar. But I always tell people to do their own research and be cautious in the cryptocurrency industry.”

Answering the question about how decentralized exchanges will affect Bittrex, Shihara said:

“I think technology needs to evolve a lot more, and I think it will take a long time for advanced decentralized exchanges to reach their trading volumes, especially the ones we have with Bittrex.”

Source: cryptodaily

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