Newton announced today the introduction of 3 new stablecoin pairs to its cryptocurrency trading platform: USDT/USDC, XMR/USDC and BTC/USDC. Stable-coins are pegged to the value of fiat currency, such as USD or CAD, making them less subject to price swings typically seen in cryptocurrency markets.
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Newton is the leading Canadian supporter of stablecoin projects, including Stable-corp’s QCAD, which launched in February, as well as USDT and USDC, two popular USD-backed stablecoins with billions of dollars in daily trading volume.
“With the introduction of 3 new stablecoin pairs – and many more to come – we’re making a big push into what we see as the future of fintech,” said Dustin Walper, CEO of Newton. “Stablecoin trading pairs allow customers to seamlessly exchange, for example, CAD for USD without waiting hours or days for funds to move from bank to bank.”
Since launching in late 2018, Newton has grown to become one of Canada’s most popular cryptocurrency trading platforms, offering an easy-to-use interface at a significantly lower cost than many of its competitors. The introduction of 3 new pairs brings the total number available to 12, further widening the capabilities gap between Newton and other Canadian market participants.
“Our goal is to be relentless when it comes to offering greater selection at the lowest possible prices,” said Nickolas Tsagatakis, Head of Project Management at Newton. “We’re constantly evaluating new virtual currency projects for suitability on our plat-form, and we subject every one of them to a rigorous set of inclusion criteria before they’re ever offered to customers.”
These new trading pairs are available starting today on web and Android. iOS support is planned in the coming weeks.