Cobinhood lists four stable coins to trading platform

09 Nov, 2018
by Ryan Boltman
Cobinhood lists four stable coins to trading platform

cryptocurrency exchange Cobinhood has listed several stable coin projects in one go to assist users in offering a more stable platform and options to transact in.

Stable coins have been talk of the past few weeks following all the drama surrounding $USDT. Since tether appears to be falling out of favour with most users, others have stepped in to offer traders a safe haven for their fiat priced trading needs. 

Most top exchanges have stepped up and added over two additional options for stable coins for users to select. Huobi even launched an all-in-one stable coin program called $HUSD to mitigate volatility. 

Recap: Huobi launches all-in-one stable coin program $HUSD to mitigate volatility

Cobinhood has followed suit by jumping on the stable-train, listing four stable coin projects in $PAX, $DAI, $GUSD, and $TUSD. 

Cobinhood CEO Wei-Ning Huang believes volatility in the market needed to be addressed and decided to step up and offer more stability for clients, stating "“The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.”

It is evident that stable coins provide a safe haven for traders looking to cash out cryptocurrencies during times of uncertainty or simply to hold their current value after a trade. With stable coins being pegged to $1 U.S each, customers can use stable coins as a base for adjusting their balances accordingly.

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