Bitbuy, a Canadian-operated bitcoin and cryptocurrency exchange platform, has announced the support for (DAI), which is now its eighth cryptocurrency available for trading.
DAI will be Bitbuy’s first stablecoin listing and is available on Bitbuy Express, Bitbuy Pro Trade, and the Bitbuy app. Moreover, Bitbuy OTC services can fill large DAI orders.
Created by the decentralized autonomous organization (DAO) MakerDAO; DAI is a stablecoin built on the Ethereum blockchain. 1 DAI will always be worth approximately $1 USD or (approx $1.33 CAD depending on the exchange rate).
The project lives entirely on the Ethereum blockchain, utilizing smart contracts. DAI is a trustless and decentralized stablecoin, with no central authority or oversight.