Digital token trading platform Bitfinex has enabled its users to deposit and withdraw Tether tokens (USDt) on the Avalanche transport protocol.
The launch of USDt on Avalanche, a decentralised smart contracts platform built for the scale of global finance, further expands the reach of USDt, the largest stablecoin by market capitalisation.
The Avalanche protocol is designed as a highly scalable ecosystem with the aim of delivering near-instant transaction finality while levying low transaction fees that are fractions of a cent.
“I’m sure our growing user base will appreciate the immediacy of access to Avalanche’s highly scalable and decentralised network,” says Paolo Ardoino, CTO at Bitfinex. “Avalanche’s community is growing and flourishing as the protocol continues to gain traction within the wider digital token ecosystem.”
USDt is supported by numerous e-commerce platforms and payment gateways, and already provides faster payment as compared to credit and debit cards, and traditional payment systems.
Bitfinex is leveraging its position as one-stop shop for crypto trading offering a variety of services, including margin trading with up to 10x leverage.