Bitfinex will begin listing Cardano's ADA on its spot exchange

Cryptocurrency exchange Bitfinex will begin listing ADA on its spot exchange.

In a press release shared with CryptoSlate, the Cardano Foundation said that trading will commence on Aug. 6 with initial support for ADA/BTC, ADA/USDT, and ADA/USD trading pairs.

Bitfinex, one of the leading cryptocurrency spot exchanges in the world, has now begun listing Cardano's ADA on its platform.

According to a press release shared with CryptoSlate, trading on Bitfinex will begin on Aug. 6, with initial support for three spot trading pairs-ADA/BTC, ADA/USDT, and ADA/USD. Deposits on Bitfinex have already opened.

The Cardano Foundation, a Swiss-based non-profit organization tasked with running the Cardano network, said that enabling access to direct fiat pairings in U.S. dollars will make Bitfinex one of the easiest exchanges users can purchase ADA on.

Paolo Ardoino, the CTO of Bitfinex, said that listing ADA trading pairs was a natural step for Bitfinex, as the latest developments such as Shelley have resulted in an increasing demand for the cryptocurrency.

Nathan Kaiser, the chairman of the Cardano Foundation, explained that the arrival of staking and delegation has made ADA increasingly integral to the Cardano blockchain.

This has only highlighted the need for easy and safe access to a fiat onboarding mechanism for ADA-a problem that was effectively solved with the coin's listing on Bitfinex.

Apart from enabling users to purchase ADA with fiat currencies, Bitfinex has also made Cardano's native cryptocurrency available to a global and diverse audience, Kaiser said.

In a press release shared with CryptoSlate, Hoskinson noted that the Bitfinex listing has helped realize Cardano's goal of becoming the first truly global blockchain-based financial operating system.