Bittrex Global To Launch Its A Exchange-Based Cryptocurrency in June; Except in the US

Bittrex Global cryptocurrency exchange is planning to launch its exchange token in the coming month. This will set it in the same bracket as its competitors Binance, OKEx and Huobi, all of whom have launched their respective exchange tokens.

In a tweet sent out on Tuesday, May 5, Bittrex confirmed they will be launching the Bittrex Global Exchange Token in June.

pic.twitter.com/cnByNN5BVw

— Bittrex Global (@BittrexGlobal2) May 5, 2020

Bittrex users in the U.S. will be locked out of the token offering due to regulatory concerns by the authorities in the country. The regulation conundrum also made the exchange move operations from the crypto-island, Malta to Liechtenstein in October 2019.

According to a tweet reply by the exchange, these regulatory concerns were the biggest hindrance to Bittrex lagging behind its competitors in offering its own token.

We couldn't due to regulatory restrictions. Now we can though!

— Bittrex Global (@BittrexGlobal2) May 5, 2020

The growth of Binance, OKEx and Huobi has eaten into Bittrex market share over the years due to these tough regulations within the U.S, its largest market. The exchange’s market share over the past year dipped from highs of 3.5% of the global crypto trading market to about 1% today.

The Liechtenstein-based exchange was founded in 2019 in support of its U.S. based exchange to provide a trading platform for customers’ internationally.

More details will be provided on the listing before June.