Australian crypto exchange CoinJar adds support for ERC20 tokens

Leading Australian digital currency company CoinJar announced today it will now support ERC-20 tokens with the launch of three new tokens on its exchange.

Australians will now be able to easily buy, sell, send and receive three ERC-20 tokens on the CoinJar exchange: USD Coin (USDC), Basic Attention Token (BAT) and 0x Token (ZRX).

The company previously supported only Bitcoin, Zcash, Ripple, Litecoin, and Ethereum.

CoinJar CEO Asher Tan said stablecoins and ERC-20 tokens had come to prominence providing a refuge from the volatility of bitcoin and other large-coins and tokens.

CoinJar CEO Asher Tan

“Volatility has been a primary trait, and also criticism, of bitcoin and other digital currencies,”  Mr. Tan said.

“With more people owning and using digital currencies, non-volatile digital currencies create utility as a bridge between crypto and existing financial systems.

“We’re continuing to see a maturing market with Australians treating bitcoin and other large-cap cryptocurrencies as they would a commodities investment, while ERC-20 tokens now providing a product that will allow us to use digital currency in a different way.”

Tan said the launch on its platform was just the tip of the iceberg as the “stablecoin invasion” and evolution of ERC-20 tokens continue into 2020.

“There are more than 57 stablecoins and thousands of ERC-20 tokens now on the market, which is why it is important for Australians to be able to buy, sell and trade these coins on a trusted platform,” Tan said.

“Each coin is designed to be used for a specific trusted purpose, and we’ve selected USDC, BAT, and ZRX to lead our offering as the most in-demand coins on the market.”

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