Australian crypto exchange CoinJar adds support for ERC20 tokens

ERC-20 has emerged as the technical standard used for all smart contracts on the Ethereum blockchain for token implementation, providing global consistency. 

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.”

Exit mobile version