EQUOS expands stablecoin offering with launch of Tether
Tether is well-established as the largest and most widely used stablecoin, and is currently ranked fourth largest cryptocurrency, by market capitalization. However, it has also been subject to negative media coverage and concerns from critics.
In considering USDT, the EQUOS listing committee undertook a thorough process, which it applies to all potential listings, including analysis on utility, degree of decentralization, current usage, and transaction flow, ongoing development effort, innovation over other blockchains, and long-term prospects.
The EQUOS listing committee was formed in order to differentiate the platform's listing process from other exchanges, using clear independent criteria that is not swayed by offers of sponsorship by projects, as is seen on some other exchanges. In the specific case of Tether, concerns were significantly reduced following the settlement reached by the
This announcement comes just days after Tether released a report, in which independent auditor Moore Cayman attested that the stablecoin is fully backed by US dollar reserves, a move that is likely to reinforce its popularity. It had previously been reported by several publications that Tether was only partially backed by US dollar holdings.
EQUOS offers a stablecoin pair crossing USDT and USD Coin (USDC), improving capital efficiency on the exchange. This allows holders of Tether to take advantage of the many benefits that USDC fungibility on EQUOS offers. Currently, EQUOS uses USDC as its base currency for trading with other cryptocurrencies, such as Bitcoin and Ethereum. In addition, EQUOS also offers the ability for customers to deposit fiat USD, and then swap into USDC on a one-to-one basis, without any exchange rate fees or risk.
Fungibility is central to minimizing extra costs for investors trading through EQUOS, as it empowers traders to efficiently allocate into their chosen assets while incurring the least amount of fees associated with bridging through a stablecoin base currency. By offering USD — USDC fungibility, clients can use both currencies interchangeably at no additional cost. To this end, the listing of USDT on the exchange acts as an onramp mechanism for traders who have historically traded in USDT to EQUOS' fungible ecosystem.
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This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. For example, forward looking statements in this press release relate the completion of the private placement, the satisfaction of customary closing conditions related to the private placement and the intended use of net proceeds from the private placement. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of
In addition, any forward-looking statements contained in this press release are based on assumptions that
 Source: Tether: Assurance Opinion Confirms Tether's Reserves Fully Backed; Company Shares as Part of Ongoing Transparency Commitment (link)
 Source: Bloomberg Tether Says Stablecoin Is Only Backed 74% by Cash, Securities (link)
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