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From Monday, BiboxEurope will start pairing GBP to continue with its cryptocurrency offering expansion. It is going to start with Ethereum and Bitcoin, which are the most liquid options in the market.
After deliberating for a long time, the company picked October 14th as the launch date for the new pairings.
In August, BiboxEurope raised a question on its twitter page, asking which Fiat crypto trading pairings its users want.
— Bibox (@Bibox365) August 13, 2019
The majority of the replies favored GBP. From the replies, BiboxEurope has decided to go with public opinion. These pairings add more options to meet the needs of different traders.
Although Brexit is still causing economic uncertainty in the cryptocurrency market, the value has been stable for some time.
And there may be increased demand for digital coins as a result of the uncertainty of Brexit. It may play into the hands of traders using the GBP.
Others may join the train and invest in digital coins to balance off the loss from Brexit uncertainty
After the successful addition of ETH/EUR/ and BTC/EUR, BiboxEurope decided that it’s time to include GBP in its pairings.
Besides, there was considerable interest in fiat on-ramp, and BiboxEurope provides CHF pairs on its platform, which is unarguably a very active asset against ETH and BTC.
The crypto pairings with GBP will attract those who want to have a diversified portfolio.
In particular, traders who want to minimize their losses on currency trading with GBP can diverse into crypto-currency trading. Interestingly, the pairings, along with other major currency pairings, will be available on one platform, says BiboxEurope.
Bibox growing its network gradually
BiboxEurope has always strived to grow its network and expanding into other international markets.
The company has grown in volumes since its launch. Currently, the market has about 184 crypto-t-crypto pairings, which are all listed on CoinMarketCap.
It gets a large volume of trade with the token valuation of $0.15. On average, Bibox reaches more than $1.5 million in trading volume.
The addition of GBP pair on the market will see an increase in trading volume. But there might not be a change in its token cost.
However, the strongest pair on Bibox remains BTC. However, as ETH is gaining more importance within the past few months, it will run very close to BTC.
BiboxEurope has always been a frontrunner of the CoinMarketCap transparency initiative. It reports real-time trading activities.
The exchange increased its presence in the market when it introduced the USDT stablecoin.
Now, it has turned its attention to the European market, where there the market environment is quite favorable to build a strong fiat on-ramp.
BiboxEurope has grown tremendously and achieved a lot in the market. Recently, it launched its referral program to improve its user-base in Europe.
The program offers about an 80% return rate, and it will run till the end of the month.