The industry-leading cryptocurrency exchange Bitget has just released the initial batch of on-ramp fiat trading pairs for spot traders. The new solution gives users the option of trading cryptocurrencies directly for fiat currency on the spot, which reduces their reliance on stablecoins and over-the-counter (OTC) services. On-ramp trading solutions are being made available through the platform for the very first time.
For spot trading, Bitget's initial batch of on-ramp fiat trading pairs includes USDT/BRL, ETH/BRL, and BTC/BRL. These pairs are all denominated in Brazilian Reals. The initiative will roll out for the first time in Latin American countries, which are home to some of the highest rates of cryptocurrency adoption among the general public. These nations are also an important market for Bitget's plans to expand internationally. The local on-ramp solution is linked to the local government payment system known as Pix, and it operates concurrently with the off-ramp solutions that we are currently providing on a global scale. Some examples of these solutions include P2P trading and fiat payment gateways.
The development team is working on adding more trading pairs for fiat currencies to the platform so that users all over the world will have the ability to deposit fiat currency and trade cryptocurrencies directly on Bitget with a high level of liquidity and security.
"As a leading cryptocurrency exchange, we are committed to being a sustainable and secure bridge between traditional and blockchain finance," Gracy Chen, the Managing Director of Bitget, said. One of our major accomplishments for this year is making it possible to trade fiat currency pairs. We will be working hand in hand with top-notch and recognized payment solution providers to ensure that we are compliant when it comes to linking local economies, businesses, and marketplaces with digital assets in order to create gateways that are easily accessible for the purpose of serving international communities. We are hopeful that more users will have a better experience and easier accessibility as a result of this, which is essential for the widespread adoption of cryptocurrencies.
Bitget is one of the top five leading cryptocurrency exchanges in the world. It was founded in 2018, and it currently serves over 8 million customers in more than 100 countries. Key features of Bitget include its innovative products and social trading services. The goal of the exchange is to increase crypto adoption through collaborations with credible partners, such as the legendary Argentinian footballer Lionel Messi, the Italian leading football team Juventus, the PGL Major's official esports crypto partner, and the leading esports organization Team Spirit. In addition, the exchange is committed to providing users with trading solutions that are both secure and can be completed in a single location.