Bitpanda crypto trading platform adds stablecoin to offering

Bitpanda, a Vienna Based fintech company has added stablecoins as a new asset class to their trading platform. Its over 900.000 users are now able to deposit, send, trade and swap Tether (USDT).    

Bitpanda's vision is to provide easy-to-use and convenient access to an array of digital assets, and it is currently expanding its trading platform to other asset classes beyond cryptocurrencies. As a first step, Bitpanda is now offering its first stablecoin as a new asset class. Tether (USDT) is the most popular stablecoin in terms of volume, and Bitpanda users can now have the option to deposit, send, trade and swap it. "While we are continuously adding new cryptocurrencies and features to the Bitpanda platform, our overall goal is to offer our users asset classes beyond cryptocurrencies," says Bitpanda CEO and co-founder Eric Demuth.

Unlike cryptocurrencies, whose price fluctuates, a stablecoin such as Tether (USDT) tries to hold its value around a specific asset. In this case the value of 1 USDT is supposed to stay at around 1 US-Dollar.