Bitfinex Enables Deposits and Withdrawals for Tether Tokens on Polkadot

Bitfinex, a digital token trading platform, has enabled its customers to deposit and withdraw Tether tokens pegged to the U.S. dollar (USDt) on Polkadot, a blockchain that connects several chains together in a single network.

Polkadot is among thirteen blockchains on which USDt is available, including Algorand, Avalanche, Bitcoin Cash's Simple Ledger Protocol (SLP), EOS, Ethereum, Liquid Network, NEAR, Omni, Kusama, Solana, Tezos and Tron. The integration of USDt on Polkadot reduces confirmation times, makes payments faster and lowers transaction costs.

"We are pleased to be adding another blockchain for our customers to be able to deploy their Tether tokens," said Paolo Ardoino, CTO at Bitfinex. "Polkadot has a flourishing ecosystem and I'm sure that our customers will appreciate being able to obtain access to this chain on our platform using Tether."

Shortly before, Fazzaco reported that Bitfinex would support the Ethereum Proof-of-Work fork​. 

Last month, Bitfinex has added Ethereum Classic (ETC) and Monero (XMR) to the exchange's suite of margin trading products, expanding the offering of an exchange dedicated to financial freedom.