BITPOINT the first exchange in Latin America to enable USDC and USDT on par with the dollar

Key facts:
  • Stablecoins have almost zero volatility with the benefits that cryptoassets have.

  • BITPOINT offers 10 cryptoassets: BTC, ETH, ADA, DOGE, LTC, EOS, LINK, Dash, USDT and USDC.

The renowned exchange BITPOINT enabled USD Coin (USDC), being its tenth cryptoasset on the platform and its second stablecoin. USDC currently has a market capitalization of close to $28 billion, ranking it as the ninth largest cryptoasset by capitalization in the world. In terms of stablecoins, it is the second largest, behind Tether (USDT).

  • USDC is the second stablecoin offered by BITPOINT, which has been offering to buy and sell Tether (USDT) since the beginning of 2021. Both cryptoassets are traded on its platform in pairs against the dollar (USDT/USD and USDC/USD).
  • BITPOINT already offers 10 cryptoassets on its platform: Bitcoin, Ether, Cardano, Dogecoin, Litecoin, EOS, Chainlink, Dash, Tether and USD Coin.
  • The platform has a network of partnerships in the region that allows users to make deposits and withdrawals in dollars and local currency from all countries where it operates, which facilitates the monetization of cryptos to bank accounts.
  • Of Japanese origin, BITPOINT already operates in 9 countries in Latin America. It began its regional expansion in 2018 with its arrival in Panama, from where it expanded to Mexico, Guatemala, Peru, Ecuador, Dominican Republic, Argentina and recently to Colombia and Brazil.

“Stablecoins are very interesting instruments. They have a lot of what is good about FIAT, but being crypto. Being able to directly exchange your FIAT for crypto and vice versa is a great advantage, because in most cases out there, users must make several operations to do what in our platform they do in one step. Buying and selling stablecoins is straightforward with our trading pairs. It’s simpler and saves commissions.

Julian Geovo, BITPOINT’s director of operations for Latin America.

What is a stablecoin?

It is a cryptoasset whose price is subject to the price of another asset, which in the case of USDT and USDC is the US dollar. Hence its name, which in English means “stablecoin”. The stablecoins have almost zero volatility, so they are widely used by crypto investors to locate their resources when they do not have open investment positions or simply to have their resources safe with the benefits that cryptoassets have.

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BITPOINT has had a strong expansion in Latin America in 2021. Spokespersons for the company state that they have considerably expanded their services and prioritized what clients ask them for.

“We continue to be very close to our users, asking them what they expect from us. Which has allowed us in 2021 to bring more services to our platform that have been received with great success. In 2020 we were operating with only 5 cryptoassets, today we have 10 of the top cryptos in the world available for them. We also launched the Lending service in the trime.

stre passed because some wanted to earn interest on their crypto savings without so much movement. The launch of USDC obeys the requirements of many users who ask us for options to safeguard the value of their assets, given the strong devaluation of their local currency, so from now on they already have the 2 main stablecoins in the market to do so”

. Julian Geovo, BITPOINT’s Chief Operating Officer for Latin America.

BITPOINT have stated their intention to continue adding services and more assets to their platform as part of their global growth. Recently, from its headquarters in Japan, the inclusion of Cardano (ADA) was announced, being BITPOINT the first exchange to list this fast-growing cryptoasset in Asia and Latin America. Today Cardano is the third largest cryptocurrency by market capitalization in the world.

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