What Is ForDeX?
ForDeX is a one-stop market for stablecoins, where users can buy stablecoins with USD. The platform deals with stablecoins in various currencies, allowing users to build a portfolio and trade across top stablecoin projects that represent real currencies such as US Dollar, Korean WON, or the Singapore Dollar.
In addition to supporting multiple stablecoin projects, ForDeX also offers multi wallet support, which enables users to directly trade from their wallets of choice without ever giving up custody of their digital assets or trusting a centralized counterparty.
Its Fiat on-ramp feature also enables users to convert their US dollars into stablecoins to trade their favorite digital assets. Another important feature of the platform is the leveraged trading and shorting, which allows users to utilize their tools to take leveraged positions on either side of trades in fresh and upcoming markets.
The Growth Of Stablecoins
Lately, there has been a steady development of stablecoins in the crypto space. This follows the fact that cryptocurrencies are extremely volatile, which could hinder their worldwide adoption. The volatile nature of cryptocurrencies could end once the digital assets are widely adopted worldwide.
Why ForDeX Focuses On Stablecoins
By focusing on stablecoins, ForDeX aims to address the challenges associated with them, which affect market makers, stablecoin issuers, as well as traders. Currently, there are more than 60 stablecoins worldwide and the number is growing.