Bitfinex, one of the prominent digital asset trading platforms in the world, announced its decision of adding the latest trading pair of BTC/XCHF to its platform. What’s interesting is, this is the first time that the exchange has introduced a non-USD stablecoin base pair on its platform.
The exchange shared this exciting news with the crypto community through their official micro-blogging handle on Twitter on 24th June 2019. The Twitter announcement was followed by an official post on the Bitfinex website on the same day.
A BTC/XCHF trading pair has been added to Bitfinex as our first non-USD stablecoin base pair.
XCHF was launched in October 2018 by @SwissTokens, a subsidiary of Bitcoin Suisse. To learn more about the CryptoFranc, visit https://t.co/kpaiwCXept.https://t.co/1njjHGLbF2 pic.twitter.com/zcxOinGOGg
— Bitfinex (@bitfinex) June 24, 2019
For those who are seeking more details, the XCHF (CryptoFranc) was established last year in the month of October by Bitcoin Suisse’s subsidiary firm called Swiss Crypto Tokens. The CryptoFranc is a stablecoin based on the blockchain of Ethereum, adhering to the standard of ERC-20. It represents the Swiss Franc denominated bonds wherein 1 XCHF’s value equals to 1 CHF.
Moreover, the total value of all the XCHF in the circulation is completely backed by the physical CHF bank notes. Investors can secure their volatile cryptocurrency holdings in XCHF in order to get away from the volatility of the market.
Bitfinex, on the other hand, had recently enabled trading for KAN, a utility token of BitKan, against USDT and USD on 18th June 2019. The popular crypto exchange is also apparently all set to increase its capacities of margin trading, letting traders utilize as much as 100x leverage.