CEO interview with Bittrex: the USD soon integrated?2018-02-02
Bill Shihara, CEO of Bittrex was interviewed by Rahul Sood of UnikrnRadio. He mentioned the development prospects of Bittrex. The most interesting news concerns the likely integration of the USD on the exchange, even if it is difficult to know if these will be accessible to individuals.
Exchanges plagued by new users
The growth of bitcoin in May led to a wave of trade listings. So they had to curb the inscriptions. Bittrex had to suspend registrations in December, before setting up an individualized procedure to welcome new users to the drop accounts.
"When we re-open registrations, we will be more demanding by setting minimum deposit thresholds, and that sort of thing. We will also make sure new registrants understand what they are doing ... The request has been absolutely amazing." says Bill Shihara
The new target: institutional investors
Bill Shiara has returned to the intrinsic complexity of cryptocurrencies, even if new projects tend to reduce this friction. He also highlighted Bittrex's "back-end", allowing it to increase the liquidity of other exchanges such as Upbit.
Pairs against USD soon on Bittrex ?
He highlighted the brake that this absence could have for Bittrex. New users must first buy from a competitor, and then transfer cryptocurrency to Bittrex. We do not really know if Bittrex intends to open this new means of exchange to all new users.
"We will see other partnerships of this kind during the year. And we will trade against USD; it will not be available for everyone, only for the majority of our customers as well as our foreign partners" says Bill Shihara
The new competition: decentralized exchanges and the atomic swaps protocol
Decentralized exchanges are in fashion right now. Binance, for example, thanks to a very aggressive market conquest policy, saw an impressive number of new users flocking in, when most platforms were at half-mast. The atomics swaps - protocol allowing exchanges between blockchains without going through a third - were also mentioned but that does not seem to worry more than that the CEO.
He reiterated that these technologies are promising, but they are not ready to work with large volumes. They would still be great alternatives for individuals.