Retail forex broker FXOpen is again showing its commitment to cryptocurrency users by enabling the unlimited deposit and withdrawal of funds via Tether.
Tether Inc., is a startup utilizing cryptocurrencies to represent fiat currencies, it offers EUR₮, a ‘euro-coin’, and USD₮, a ‘dollar coin’, that are tradeable and transferable over the Bitcoin blockchain, as well as being pegged to the real thing. A Japanese yen offering (JPY₮) is promised to be added by the startup soon.
Tether enables bitcoin businesses – including exchanges, wallets, payment processors, financial services and ATM networks – to easily use fiat currencies on the blockchain. Some of the largest businesses in the cryptocurrency ecosystem have integrated tether, including GoCoin, Bitfinex, Poloniex, ShapeShift, C-CEX and more.
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FX open to cryptocurrencies
Back in September 2016, FXOpen started accepting deposits and withdrawals of funds via the world’s second most valuable blockchain asset by market cap, Ethereum. Earlier that year FXOpen first launched Ethereum-based trading pairs, offering access to both ETH/USD and ETH/BTC for both its live and demo clients.
In June 2016 FXOpen also introduced Dash-based pairs – again the first ever in the forex market to do so – offering access to DSH/BTC as well as ETH/RUB (ether/Russian ruble).
In total the brokerage now supports five cryptocurrencies for deposits and withdrawals: Bitcoin, Litecoin, Namecoin, Ethereum and Tether.