The Cardano Foundation, the Swiss-based legal custodian and caretaker of the Cardano blockchain, today announced that Bitfinex, the popular cryptocurrency trading platform, will offer its customers trading of ADA, the native currency of the Cardano protocol.
Cardano is a fully-decentralized, open-source blockchain protocol established in 2017, which has recently reached a critical milestone in its development through the release of staking and delegation, full network decentralization, and the impending release of smart contract capabilities.
Ada trading will commence on Bitfinex on 6 August 2020, with initial support for ADA/bitcoin (ADA/BTC), ADA/US dollar (ADA/USD), and ADA/Tether (ADA/USDT) spot trading pairs. ADA holders can deposit on Bitfinex starting from August 6, 2020.
Bitfinex, established in 2012, consistently ranks among the largest digital asset exchanges in the world by daily trading volume. The listing of ADA trading pairs offers cryptocurrency traders and investors a new and trusted platform on which to buy, trade, and exchange ADA tokens.
Nathan Kaiser, Chairperson of the Cardano Foundation, says:
“As the ADA cryptocurrency becomes increasingly integral to the Cardano blockchain through the arrival of staking and delegation, it is essential that ADA holders have access to trustworthy and reliable exchanges on which to purchase tokens. It is especially useful when, like Bitfinex, these exchanges reach a global and diverse audience—inviting participants from across the world to buy and transact ADA through a variety of fiat and digital asset trading pairs.”
Additionally, ADA holders may now take advantage of Bitfinex’s trading infrastructure, low spreads, competitive trading fees, and market-leading liquidity. Bitfinex also provides prospective ADA holders access to a wide range of crypto-to-fiat on-ramps in multiple national currencies from around the globe, including British pound sterling, Japanese yen, US dollars, and more—which reflects Cardano’s growing importance across geographically diverse markets.
Paolo Ardoino, CTO of Bitfinex, says:
“Listing ADA trading pairs is a natural step for Bitfinex. There has always been interest within our community for us to offer ADA pairings, and at this historic time for the Cardano blockchain, there is more demand than ever before from the blockchain community for reliable and trustworthy exchange support for ADA trading.”
On 29 July 2020, Cardano completed a hard fork that heralded the arrival of staking and delegation. For the first time, ADA holders can take part in the consensus of the Cardano protocol, and earn rewards for their participation. Therefore, a new, trusted way to buy and transact ADA is fundamentally important for onboarding and welcoming new holders and active participants in the Cardano protocol.
Charles Hoskinson, CEO of IOHK, says:
“Listing on Bitfinex, one of the world’s largest cryptocurrency exchanges, represents a significant milestone on the road towards mainstream adoption of ADA, and reflects the increased market confidence in Cardano. Following the Cardano protocol’s decentralization through Shelley, Bitfinex offers the opportunity to purchase ADA in multiple jurisdictions worldwide, helping to realize Cardano’s goal of becoming the first truly global blockchain-based financial operating system.”