15 Jun 2018 Arjun Agarwal
itBit Offers Investors Four New Cryptocurrencies
Following the approval of the New York State Department of Financial Services, the New York-based exchange will offer institutions, traders, and professionals trading services of the four major coins.
Charles Cascarilla, CEO of ItBit, said that the offering portfolio expansion is a result of the significant client interest in the currencies. Until recently, itBit was working exclusively with Bitcoin.
The expansion is expected to increase interest in the platform and a large number of new customers. Investors joining the platform will benefit from more choices, and the company will be excited to attract new customers.
The cryptocurrencies have already been approved by banking and financial institutions after the official legalization executed by the New York Department of Financial Services.
The newly added cryptos will have escrow, custody, and OTC assistance instantly. ItBit happens to be the first New York City-based exchange platform to present services to XCM Stellar. Following the official announcement, Stellar‘s price spiked by over 5%.
In 2018, itBit was ranked second, as it is the largest exchange platform for Bitcoin trading. The deliberate change of direction by expanding the market offering will lead to positive outcomes.
Charles Cascarilla welcomed regulators, market participants, and investors to join the exchange as it‘s essential to reach a consensus and enhance transparency. It is possible for ItBit to stretch even further by adding more currencies like Ripple XRP.
The interest in cryptocurrency has increased dramatically over the past few years, and the value of Bitcoin is decreasing. This speaks a lot about newcomers looking for secure currencies which are energy efficient, offer faster transactions, and are more reliable and stable.
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