Bitfinex Adds Three New Stablecoin Trading Pairs, USDC/USDT, PAX/USDT and TUSD/USDT

The crypto exchange Bitfinex has recently announced on Twitter that it would add three new stablecoin pairs to its rooster.

According to the company, clients will now be able to trade three stablecoins for Tether. These new trading pairs are USD Coin (USDC/USDT), Paxos Standard (PAX/USDT) and TrueUSD (TUSD/USDT).

Bitfinex is not only a crypto exchange but also the company that issues Tether, so the new pairs make sense. Trading starts today at 8:00 a. m. UTC. Only users who are already verified and whitelisted by the Know Your Customer (KYC) system of the company will be able to trade the new assets.

The Legal Trouble Surrounding Bitfinex

Despite continuing activities, as usual, it is fair to say that Bitfinex and Tether are living quite troubling times. At the moment, the two companies are facing the New York Attorney General (NYAG) in a battle to prove that the companies did not do anything illegal when Tether loaned $850 million USD to its sister company.

The company was being used to back the price of the stablecoin, so the NYAG argues that Bitfinex broke the law while the company argues that the whole case is not even in the jurisdiction of the NYAG because Tether does not have any clients who are resident in the New York state.

At the moment, the two companies are in a process to collect documents to prove that they did not break the law. To compensate the Tether holders, the company has started an Initial Coin Offering (ICO) to sell LEO tokens. The money will be used to pay the debts.

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