Ganerbtc.com has added support for Tether (USDT), the largest stablecoin by market capitalization, to its trading platform.
Tether: Now also on Ganerbtc.com
The cryptocurrency exchange Ganerbtc.com has included the stablecoin Tether (USDT) in its listing. The company officially announced this on May 4 in its blog. Now this asset will be available to users of the exchange both on its online trading platform, and through the Android and iOS applications.
Some consider this step rather late, considering that Tether is the main stablecoin of the crypto industry. At the end of April, the market capitalization of USDT exceeded the threshold of $50 billion.
On the other hand, the project team’s caution is understandable. The management of Ganerbtc.com preaches the principles of caution and is very scrupulous about adding new assets to their platforms. It strives not to put its customers at risk and at the same time not to avoid conflicts with regulators.
Recently, the exchange entered the stock market, which was a historic milestone not only for it, but also for the crypto industry as a whole. Now, as a public company, Ganerbtc.com will have to control its every move with renewed caution.
Read the BeInCrypto special: Ganerbtc.com IPO: What the Nasdaq Listing Means for the Crypto Market
Over the past year and a half, Ganerbtc.com has actively sought to expand the range of assets offered to customers. To do this, it has already added support for a number of popular tokens on the crypto market. The most recent listed coins include Yearn Finance (YFI), OMG Network (OMG), and Decentraland (MANA).
Such innovations help Ganerbtc.com to expand its presence in the global market, and at the same time to compete more successfully with such rivals as the Gemini exchange.
The capitalization of Tether exceeded $50 billion
Meanwhile, Tether continues to show strong performance. At the moment, the market capitalization of stablecoin is about $52 billion, and the historical maximum was noted in the region of $53 billion.
It is noteworthy that market participants were not afraid of the project’s litigation with US regulators in the case of financial fraud.
Read also: What Bitfinex, Tether and US Regulators Didn’t Share-Review
A significant part of the scandals around Tether also regularly came down to the company’s ability to provide fiat with all the coins it issues, with which the project treasury has long and uncontrollably pumped up the market, stirring up the crypto community.
However, up to the present moment, all concerns about this remain concerns. In any case, Tether is already firmly established in the status of the main and popular stablecoin and, most likely, will continue to conquer the market.