American cryptocurrency exchange Bittrex has announced that it has entered into an agreement with the Bank, which will allow her to conduct transfers in US dollars for corporate clients and thus attract new users, writes Bloomberg.
Bittrex has partnered with new York-based Signature Bank, which will hold is denominated in U.S. dollars with funds and also with some other companies.
“We have come a long way,” said the head Bittrex bill Shihara. “And it is not just that banks can trust Bittrex. The fact that the banks can trust the cryptocurrency sector as a whole. I think it really says that in the mass spread of the cryptocurrency comes the tipping point”.
Another major U.S. exchange Coinbase has partnered with banks, Cross River Bank, Metropolitan Bank and Silvergate Bank in the United States, and recently became the owner of the account in the UK Barclays. At the same time, many exchanges do not have such opportunities because of what they are forced to limit their offer cryptocurrency or to enlist the help of stable tokens.
“They really examine and scrutinize the entire business,” commented Chihara the news of the conclusion of new agreements. “They want to make sure that we adhere to a reliable practitioner in the field of AML/KYC that we properly control your money. They check the reputation of the company, and the like. They really do learn our business completely and in order.”
Bittrex, serving more than 3 million users, is launching Fiat trading in currency pairs with bitcoin, Tether and TrueUSD this Thursday. Initially the tool will only be available for enterprise users from Washington, California, new York and Montana for regulatory reasons, but in the future the company promises to provide access to individual investors.