In line with a recentofficial web blog post, Bitfinex exchange revealed its improved fiat deposit system. Earlier, on 11th Oct., Bitfinextemporarilyhalted fiat orderdeposits in four currencies – theEuro[EUR], United States Dollar [USD], Japanese Yen [JPY], andBritish Pound Sterling[GBP] –while notspecifying a reason for suspension and claiming that fiat orderdepositsare“expected to resumewithin a few upcoming days.”
However, On 15th Oct., the crypto exchangepublished anupdate onfiatdeposits, explaining that Bitfinex had temporarily haltedfiatdeposits for certain userwithin theface ofprocesscomplications.”
The companyconjointlystressedthat allcryptocurrencies and fiat orderwithdrawals wereprocessingwithout any interference.
In today’s announcement, the Bitfinex team introduced a “new, improved andprogressivelyresilient” fiatorder deposit system.
As per the claims of exchange, the new systemwould once again enableKYC-compliant customers from around theworld to conduct depositswithin thefourantecedentlysuspended fiat currencies.
According to the statement, the new systemwould necessitateusers toprocessa deposit request,which would then be reviewedwithinforty eighthours. The deposit itself, as Bitfinex states,areprocessed “within 6-10 business days.”
Theweb blogpostconjointlystates that the min.orderdepositamountis at $10,000 USD with a 0.1% processingfees.
The company introducedfiatoperations back in the year 2015during itsmove toaltertraders to enter the digitalasset ecosystem, as mentionedduring arecentweb blogpostprior to fiat deposit suspension.
Last week, the exchange issuedan officialresponse to a recent swathe ofon-linerumors thatit’s insolvent or facing bankingproblems. Bitfinex’s rebuttal camewithin thewake of last week’s reports that the exchange’s banking partner had lostboth theBitfinex and subsidiary firm Tether.