On November 27, a crypto exchange Bitfinex announced that from today Bitfinex users would be able to trade Tether-fiat directly on the platform through the addition of USDT/USD and EURT/EUR Tether trading pairs.

According to the announcement, wallets on Bitfinex will support Tether balance USDT and EURT in addition to the existing USD and EUR fiat balances. Users may then use this new pair to convert fiat to Tether and vice versa as desired. This effectively means that Bitfinex users can deposit, trade and withdraw USD and EUR in both fiat and Tether denominations.

Bitfinex adds it will introduce new stablecoin pairings as and when demand is high enough to list them on the exchange.

All existing USD balances on Bitfinex will remain fiat and unaffected by this change. Any Tether deposits initiated before 14:30:00 UTC on the 27th of November will be credited to the user’s fiat wallet balances, whereas Tether deposits initiated after this cutoff time will be credited as Tether (USDT).

Additionally, customers are now able to redeem their USDTs to USD directly through the newly-updated Tether.to platform. The Tether website now supports full account verification whilst allowing for direct Tether-to-fiat conversions at a fixed 1:1 rate.

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