Crypto Exchange Seed CX Adds Support for Three Stablecoins

Chicago-based crypto exchange Seed CX has announced support for stablecoins Paxos (PAX), USD Coin (USDC), and TrueUSD (TUSD) in a press release on May 14.

The new stablecoin additions can be traded for U.S. dollars starting May 17, and the exchange is aiming to roll out trading pairs between the stablecoins and other fiat currencies such as the euro in the near future. Seed CX CEO Edward Woodford commented on the impetus to add stablecoin options:

“Stablecoins are important in the ecosystem as they increase the velocity of movement of fiat equivalent assets 24/7 and had been requested by a number of our trading participants.”

For margin trading, the press release states that these three stablecoins can be used as collateral with a minimum holding requirement of 10%, which allows investors to trade up to 1,000% of the value for their current stablecoin holdings.

As recently reported by Cointelegraph, major crypto exchange Binance looks like it will be rolling out support for margin trading for nine trading pairs.

While not yet confirmed, the public Application Programming Interface (API) has been recently updated to include the variables “isSpotTradingAllowed” and is “isMarginTradingAllowed.”

A Reddit user observed at the outset of May that second variable check is now true for nine pairs: BTC/USDT, BNB/BTC, BNB/USDT, ETH/BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP/BTC, XRP/USDT.

Binance CEO CZ linked to the post in an official twitter post, saying “Crowd intelligence is amazing.”

  • 39
Block
Add Reply
Feedback |

Nice

Add Reply
expand

Share

Add Reply
expand

Support you            

Add Reply
expand

Nice sharing       

Add Reply
expand

Good afternoon.

Add Reply
expand

Come and support

Add Reply
expand

support~

Add Reply
expand

thanks for sharing. 

Add Reply
expand

Good afternoon.

Add Reply
expand

Support

Add Reply
expand

Mining~~  

Add Reply
expand

Come and support

Add Reply
expand

Come and mining

Add Reply
expand

support

Add Reply
expand

Nice Sharing

Add Reply
expand

Good afternoon.

Add Reply
expand

Great share

Add Reply
expand

Support Landlord           

Add Reply
expand

Thanks  your sharing

Add Reply
expand

Support and  mining          

Add Reply
expand

Nice sharing       

Add Reply
expand

thumbsup

Add Reply
expand

Mining support               

Add Reply
expand

Thank you  for sharing. 

Add Reply
expand

support······      

Add Reply
expand

Great  sharing······    

Add Reply
expand

Support you!          

Add Reply
expand

Great  sharing

Add Reply
expand

Good evening                 

Add Reply
expand
You should login to reply
You will reward to {{ username }}

Available Balance: {{balance}}

≈ $ {{usdtAmount.toFixed(2)}} (The reward commission rate is 10.0%)

New Favorite Bag

Add To Favorite You can create multiple favorites and classify the topics. Please select the favorites you want to add.
{{ favoriteBag.title }} {{ favoriteBag.favorites_count }}Topics

{{ text }} OK
fa-bars fa-arrow-up