In a roundup of cryptocurrency exchange news, around 130 additional employees are to be hired via the end of 2019 for Coinbase New York office. On the other hand, a recent announcement was released that EF Hutton will back the launch of new exchange Acex.
Coinbase indicated its plan of hiring 130 employees before the next year ends for the newly opened office of the exchange in New York. The hiring of new staff would round the total personnel working at Coinbase’s new facility to around 150 people.
According to Coinbase International’s general manager Adam White, they needed to build a bridge to fill the gap between technology and financial services. In order to do that, they are working on pulling some of the brightest minds in the industry that used to work in traditional financial firms.
While the trade volume declined, Coinbase continued to grow because the sector had increased institutional investment. According to White, the market started to correct as expected and so the interest of institutions in the industry remain.
Onto another news concerning exchanges, EF Hutton has spoken about sponsoring a new virtual currency exchange called the American Cryptocurrency Exchange or Acex. In a press release, it was noted that the exchange is expected to begin trading by January next year.
The press release also indicated that Acex is said to be “a first of its kind membership exchange in North America.” Christopher Daniels, EF Hutton’s chief executive offers, said they are backing Acex as part of their goal of developing an exclusive fintech infrastructure.
They plan to build a new infrastructure encompassing a multitude of advisors and brokers. Acex’s membership will be the key as it is unique to any exchange membership in the world. The structure of Acex membership benefits each member firm, all being directly helped by Acex’s growth.
When Acex is launched, it will support a multitude of cryptocurrencies. Among the digital currencies it supports includes BTC, BCH, ETH, BTG, LTC, OMG, ETC, DASH, EOS, XMR, IOTA, TRX, VEN, TUSD, and ZEC. Next year, Acex also plans to include initial coin offerings.
On side news, the 14th biggest cryptocurrency exchange, Digifinex announces it will phase out the USDT pairings in favor with TUSD pairings. According to Kiana Shek, she had been searching for ways to remove USDT in their platform for months and now will launch TUSD in place of the Tether.
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