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Compliant Stablecoin Portfolio Launches at Gate.io
Compliant Stablecoin Portfolio Launches at Gate.io
2021-08-08 17:44:25 UTC
1767048 Read
Blockchain assets achieve an increasing influence in the world. Meanwhile, regulatory policies around the world are becoming clearer and more explicit, which provides judicial guarantees for the long-term formal development of the blockchain industry. Gatet.io has always embraced innovation and compliance, and hopes to provide users with more access to compliant assets. To this end, we have launched a portfolio of USD anchored compliant stablecoin symbols for our users, containing a variety of compliant stablecoins with good industry reputation. The current portfolio includes USDC, TUSD, PAX, BUSD, HUSD, etc. Gate.io’s USD compliant stablecoin portfolio displays the following features:
(1) The number of compliant stablecoins in the portfolio will be increased or decreased according to the development of the overall industry, in an attempt to provide users with a more regulatory compliant stablecoin asset portfolio and reduce the risk of their stablecoin holdings.
2) Users can choose to deposit any coin in the portfolio and Gate.io will credit the user’s position in USD coins (to be opened after August 10, 2021).
(3) Users can choose any currency in the portfolio for withdrawal in USD currency, without manual conversion.
(4) Users can participate in market trading with their USD positions. Currently, BTC, ETH, XRP, BCH, LTC and many other mainstream coins are supported for USD trading, which can be selected in the Gate.io spot trading module.
Gate.io will implement the crediting of any stablecoin in the user's top-up portfolio in USD currency starting August 10, 2021. The user's previous stablecoin position will not be affected (e.g. USDC position), and if he/she wishes to convert to USD currency, he/she can do so by withdrawing to his/her USD top-up address on the platform.
Please be sure to note that compliant stablecoins are not an absolute concept, but only represent the relative level of compliance within the industry. Over time, the level of compliance of each stablecoin in the portfolio will change and may even be non-compliant in some regions. New stablecoins with a better level of compliance will also emerge.
(1) The number of compliant stablecoins in the portfolio will be increased or decreased according to the development of the overall industry, in an attempt to provide users with a more regulatory compliant stablecoin asset portfolio and reduce the risk of their stablecoin holdings.
2) Users can choose to deposit any coin in the portfolio and Gate.io will credit the user’s position in USD coins (to be opened after August 10, 2021).
(3) Users can choose any currency in the portfolio for withdrawal in USD currency, without manual conversion.
(4) Users can participate in market trading with their USD positions. Currently, BTC, ETH, XRP, BCH, LTC and many other mainstream coins are supported for USD trading, which can be selected in the Gate.io spot trading module.
Gate.io will implement the crediting of any stablecoin in the user's top-up portfolio in USD currency starting August 10, 2021. The user's previous stablecoin position will not be affected (e.g. USDC position), and if he/she wishes to convert to USD currency, he/she can do so by withdrawing to his/her USD top-up address on the platform.
Please be sure to note that compliant stablecoins are not an absolute concept, but only represent the relative level of compliance within the industry. Over time, the level of compliance of each stablecoin in the portfolio will change and may even be non-compliant in some regions. New stablecoins with a better level of compliance will also emerge.
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Gate.io Team
August 9, 2021
