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Bitfinex Crypto Exchange Moves $1.5M of Stablecoin to Bitcoin Sidechain

Cryptocurrency exchange Bitfinex moved 1 .561 million Tether (USDT) from the Omni Protocol to the Liquid Bitcoin (BTC) sidechain.

Bitfinex CTO Paolo Ardoino announced the U.S. dollar-pegged stablecoin’s protocol swap on Twitter on Nov. 2.


The conversion increases the quantity of USDT available on the network after the stablecoin was first launched on the Liquid sidechain at the end of July. Ardoino said that the development will have a beneficial effect on the protocol:

“Liquid sidechain has now more liquidity for atomic swaps and cross-exchange arbitrage.” Read More...

#Bitfinex #Stablecoins