HONG KONG, CHINA--(Marketwired - Feb 26, 2015) - Tether (www.tether.to), the first blockchain-enabled platform to allow fiat currency to be used like Bitcoin, today announced its integration on one of the leading cryptocurrency exchanges: Poloniex. This news follows the recent announcement that Bitfinex, the world's largest USD digital currency exchange, now offers fiat currency to its customers through its integration with Tether.
Tether's integration with Poloniex allows its customers to transact with fiat currencies across the exchange and blockchain without the volatility concerns related to Bitcoin or alt coins. Tether is a secure platform that allows deposited US dollars (and soon euros, Japanese yen and other fiat currencies) to be converted into 1-to-1 backed tetherUSD and held in online or offline wallets.
Poloniex CEO and Founder Tristan D'Agosta stated, "Tether's growing adoption and careful attention to legal compliance have made it the leader in solutions for fiat on the blockchain."
Commenting on Tether's integration with Poloniex, Reeve Collins, co-founder and CEO of Tether, said, "Our continual integrations with exchanges are evidence of Tether's growing acceptance among the cryptocurrency community. Being traded on additional exchanges provides more outlets for users of Tether as we move forward with bringing digital currency to the masses."
Currently in private beta, each tether token is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the blockchain. Tether will be fully transparent and audited to demonstrate 100 percent reserves at all times. The near-zero fees for creating and redeeming tethers, and zero-fee transfer ability, incentivizes rapid adoption and widespread use.
Tether believes the world deserves a more modern approach to money. The current financial system was not built for the Internet; Bitcoin technology is. Tether's fully transparent, blockchain-enabled platform creates a 1-to-1 backed digital counterpart to real-world currency, making it the most secure, fast and low-cost way to transact with money. Tether's mission is to provide all Bitcoin companies and individuals with the ability to transact with real-world currency, as well as Bitcoin. For more information, please visit https://tether.to.
Poloniex is a leading cryptocurrency exchange offering over 120 alt-coin markets for trading. Founded in January 2014, Poloniex offers a secure trading environment with advanced charts and data analysis tools.