In line with a recent official press-release published, Chicago-based renowned cryptocurrency exchange namely ‘Seed CX’ has revealed support for three stablecoins including Paxos [PAX], USD Coin [USDC], and TrueUSD [TUSD].
The new stablecoin listed can be traded for USD from 17th May, as well as the exchange is about to roll out trading pairs between the stablecoins and other fiat currencies like the Euro within the near future. Seed CX chief executive officer namely ‘Edward Woodford’ commented on the impetus to feature stablecoin options:
“Stablecoins are vital in the ecosystem as they increase the rate of movement of fiat equivalent assets 24/7 and had been requested by several of our trading participants.”
For marginal trading, the press-release added that these 3 stablecoins could be used as collateral with a min. holding requirement of 10%, that permits investors to trade about 1,000% of the worth for their current stablecoin holdings.
However, not yet confirmed, the public API [Application Programming Interface] has been recently ‘upgraded‘ to incorporate the variables “isSpotTradingAllowed” and is “isMarginTradingAllowed.”
Binance chief executive officer ‘CZ’ added within an official ‘twitter post‘, stating “Crowd intelligence is very amazing.”