Crypto Exchange Bitfinex Adds Trading Support For Stellar And Verge

Announcements, News | May 2, 2018 By:

Crypto exchange Bitfinex has added support for two new cryptocurrencies, Stellar (XLM) and Verge (XVG), to its trading platform. The newly listed cryptocurrencies can be traded against BTC, ETH, USD, EUR, GBP and JPY.

Stellar is an open-source, distributed payments infrastructure. It is leapfrog technology that connects people, payment systems, and banks with a focus on the developing world. It lets users facilitate multi-currency and asset transactions by using XLM as a bridge. XLM is currently the eight-largest cryptocurrency, boasting a market cap of $8 billion.

Verge is a decentralized open-source cryptocurrency that offers anonymous transactions by obfuscating the IP address and geo-location of its users so that they are untraceable using technology including Tor and I2P. It improves upon the original bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining personal privacy. Verge is placed 24th on Coinmarketcap’s list.

“Adding Stellar and Verge to our platform underlines our commitment to extend the reach of Bitfinex traders to the most exciting investment opportunities in the space,” said Jean-Louis van der Velde, CEO of Bitfinex, in an announcement. “With a stellar combined market cap of $9+ billion, these elite tokens bolster our growing array of tokens as we continue to anticipate the needs and demands of the digital asset community.”

The announcement follows the addition of 12 ERC-20 tokens last month. These inlcude Aion (AION), Iostoken (IOST), Request Network (REQ), Raiden Network (RDN), Loopring (LRC) Bnktothefuture Token (BFT), Cofound.it (CFI), Wax (WAX), Singularitynet (AGI), Medicalchain (MTN), Odem (ODEM), and Dai (DAI). At the time, the combined market cap of the 12 tokens was about $1.1 billion.

“Today’s announcement continues the strong wave of activity within the Bitfinex community, following the addition of 12 new tokens to our platform earlier this month,” said van der Velde. “We look forward to maintaining this positive momentum in the weeks and months ahead.”

Founded in 2012, Bitfinex is currently the fifth-largest exchange in the world, with a 24-hour trading volume of more than $1.1 billion. It offers a number of advanced trading features and charting tools, as well as OTC and margin trading.