ZUG, 6 AUGUST 2020. The Cardano Foundation, the Swiss-based legal custodian and caretaker of the Cardano blockchain, has announced that Bitfinex, one of the leading digital asset trading platforms, will offer its customers trading of ada—ticker symbol ‘ADA’—the native currency of the Cardano protocol.
Cardano is a fully-decentralized, open-source blockchain protocol established in 2017, which has recently reached a critical milestone in its development through the release of staking and delegation, full network decentralization, and the impending release of smart contract capabilities.
Ada trading will commence on Bitfinex on 6 August 2020, with initial support for ada/bitcoin (ADA/BTC), ada/US dollar (ADA/USD), and ada/Tether (ADA/USDT) spot trading pairs. Ada holders can deposit on Bitfinex starting from 6 August 2020. With access to a direct fiat pairing in US dollars, Bitfinex will become one of the easiest exchanges on which users can purchase ada without first purchasing other cryptocurrency assets.
Bitfinex, a veteran of the blockchain industry established in 2012, consistently ranks among the largest digital asset exchanges in the world by daily trading volume. The listing of ADA trading pairs offers cryptocurrency traders and investors a new and trusted platform on which to buy, trade, and exchange ada tokens.
Nathan Kaiser, Chairperson of the Cardano Foundation, says:
“As the ada cryptocurrency becomes increasingly integral to the Cardano blockchain through the arrival of staking and delegation, it is essential that ada holders have access to trustworthy and reliable exchanges on which to purchase tokens. It is especially useful when, like Bitfinex, these exchanges reach a global and diverse audience—inviting participants from across the world to buy and transact ada through a variety of fiat and digital asset trading pairs.”
Additionally, ada holders may now take advantage of Bitfinex’s highly-sophisticated trading infrastructure, low spreads, competitive trading fees, and market-leading liquidity. Bitfinex also provides prospective ada holders access to a wide range of crypto-to-fiat on-ramps in multiple national currencies from around the globe, including British pound sterling, Japanese yen, US dollars, and more—which reflects Cardano’s growing importance across geographically diverse markets.
Paolo Ardoino, CTO of Bitfinex, says:
“Listing ADA trading pairs is a natural step for Bitfinex. There has always been interest within our community for us to offer ADA pairings, and at this historic time for the Cardano blockchain, there is more demand than ever before from the blockchain community for reliable and trustworthy exchange support for ada trading.”
On 29 July 2020, Cardano completed a hard fork that heralded the arrival of staking and delegation. For the first time, ada holders can take part in the consensus of the Cardano protocol, and earn rewards for their participation. Therefore, a new, trusted way to buy and transact ada is fundamentally important for onboarding and welcoming new holders and active participants in the Cardano protocol.
Charles Hoskinson, CEO of IOHK, says:
“Listing on Bitfinex, one of the world’s largest cryptocurrency exchanges, represents a significant milestone on the road towards mainstream adoption of ada, and reflects the increased market confidence in Cardano. Following the Cardano protocol’s decentralization through Shelley, Bitfinex offers the opportunity to purchase ada in multiple jurisdictions worldwide, helping to realize Cardano’s goal of becoming the first truly global blockchain-based financial operating system.”
Bitfinex leverages its position as a one-stop-shop for digital asset trading, offering a variety of services that include direct digital asset-to-fiat trading pairs, and margin
trading. Bitfinex is now looking to broaden its appeal to the large and growing Cardano community.
About the Cardano Foundation: The Cardano Foundation is an independent Swiss standards body that oversees and supervises the advancement of Cardano and its ecosystem. The Foundation’s core focus is in developing a Cardano adoption strategy through to integration and execution, to enable fast-track value creation for inclusive and equitable growth. As the legal custodian of the protocol and the owner of the Cardano brand, the Foundation works to drive adoption and partnerships, grow the wider blockchain community, shape legislation, and commercial standards, and ensure stakeholder accountability. Find out more: www.CardanoFoundation.org
About IOHK: IOHK is a research and development and product engineering company, committed to using peer-to-peer innovations to provide XXI century services to the three billion who do not have them. IOHK builds blockchain-based products for governments, corporations, and academic institutions and upskills people across the world, empowering them to solve the most pressing problems faced by people in their countries. IOHK’s core beliefs are in decentralization, the right to privacy, and stand opposed to centralized control and bureaucracy. For more information, visit: https://iohk.io/
About Bitfinex: Founded in 2012, Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and margin trading for a wide selection of digital assets. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.