Bittrex and CataIX Team Up to Tackle the Canadian Cryptocurrency Market
Bittrex and CataIX have entered into a partnership to launch a new crypto trading exchange in Canada.
Bittrex and CataIX are teaming up to launch a new crypto trading platform in Canada.
The U.S based cryptocurrency exchange revealed that the platform will launch its beta version on August 27.
The exchange says that the partnership will see a range of top blockchain projects enter the Canadian market. If the deal strikes the right balance, it could transform the Canadian crypto market.
Bittrex is one of the companies that aim at driving the adoption of blockchain technology. It is, therefore, a very good initiative that will do more for the crypto industry; other than just helping the platform to expand its global footprint.
Bittrex CEO Bill Shihara summed up the importance of this partnership.
“Every day, we’re working to advance blockchain technology and this partnership provides another opportunity for us to further drive its adoption globally.”
The deal will see the new platform provide reliability, speed, and security to the expanding Canadian market for cryptocurrency users and investors.
According to a Bank of Canada study published in July, 5 percent of the population holds Bitcoin, up from 2.9 percent. The study also showed that awareness rose to an impressive 85 percent.
However, it has always been a big challenge for a majority of crypto enthusiasts who look to investing in crypto assets. A shortage of Canadian-based exchanges is one of the top reasons many investors find it difficult in the country.
The entry of CataIX and Bittrex will change the trading landscape in Canada and hopefully stimulate the industry further. The market will benefit from Bittrex’ state-of-the-art technology, a move that will greatly improve the services delivered to the consumers.
CataIX will also benefit by accessing a wide range of top digital assets offered on Bittrex.
In the words of CatalX CEO Justin Kim, the partnership brings the company a step closer to dominance in the Canadian crypto market. He also believed Bittrex’s reputation was an added advantage.
“We are honored to be able to bring Bittrex’s extensive cryptocurrency options to the Canadian market with one of the highest brand reputations in the industry.”
The new platform will offer more than 200 token pairings. It will also provide premium features and competitive fees for its users.
Another Bittrex partnership
Ripple (XRP) has announced that Bittrex is its official partner for all transactions involving its xRapid solution. Ripple’s Chief Marketing Strategist Cory Johnson says that they chose Bittrex because it is one of the leading crypto exchanges in the U.S.
The exchange is its preferred platform for xRapid transactions that utilize the US Dollar. Bittrex will help facilitate U.S-Mexico cross-border transactions. According to Ripple’s Insight, any financial institution with a Bittrex account can make payments in US dollars using xRapid.
The company’s technology instantly converts the fiat into XRP on Bittrex. The exchange then sends the XRP to Bitso crypto exchange. Bitso, which handles XRP transactions in Mexico, converts the XRP on Bittrex into fiat and pays the amount into a specified destination account.
The latest deal with Ripple comes days after Bittrex announced that it would add XRP/USD as a trading pair on its platform. The public will be able to access XRP via fiat on the platform beginning August 20.
The listing of the crypto/fiat pair is a major move for both the exchange and the cryptocurrency and could benefit the entire market.
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