Tether is over? OKEx listed four stablecoins
The new added dollar backed tokens are trading in pairs with Bitcoin and USDT even though the USDT price went down this morning and reached $0,92. Theoretically it should always remain the same – $1.
On Monday, October 15, OKEx cryptocurrency exchange announced the 4 new listings — TrueUSD, USD Coin, Gemini Dollar and Paxos Standart Token. Deposit opens today, trading and withdrawal available tomorrow (Oct 16, HKT).
This morning, the USDT reached the annual minimum of $0,92. It happened right when KuCoin trading platform announced that it temporary stops servicing the cryptocurrency. Later on the crypto exchange resumed the work and the token went up $0,95 but it is still 5% lower then it should be.
While Tether and TrueUSD are by far the biggest players in the fiat-backed stablecoin market, there has been a recent surge in similar dollar-backed stablecoin projects. Interestingly, these projects share many fundamental features: they are all built upon the Ethereum blockchain and adhere to the ERC-20 token standard; they are all regulated under New York’s BitLicense; and they are all affiliated with a major cryptocurrency exchange. The Gemini dollar (GUSD) was created by the Winklevoss twins’ Gemini exchange. USD Coin, also called USDC, was created by Boston-based cryptocurrency firm Circle, which owns the Poloniex crypto-to-crypto exchange. Finally, the Paxos Standard (PAX) was created by Paxos and is affiliated with the itBit exchange.