Rialto Teams up With Bittrex for Digital Securities Trading Platform

Alternative Trading System (ATS) provider Rialto Trading announced today, Aug. 23, that it is partnering with cryptocurrency exchange Bittrex to create a trading platform for blockchain-based securities, pending regulatory approval.

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Combining Specializations

Rialto, which presently offers its users a regulated ATS for trading fixed income products, is seeking permission from regulators to extend its ATS services into the digital securities space. To this end, communication with regulators alongside Bittrex is ongoing.

The proposed digital securities platform with bring together Bittrex’s experience with cryptocurrency trading, digital wallets, cybersecurit, and blockchain technology with Rialto’s experience with securities, and its licensed broker-dealer ATS.

The two companies will merge their specializations to create a comprehensive securities platform, offering fiat trading for digital securities, trading, placement, issuance advisory and custody services.

Speaking after the announcement, Rialto Trading CEO Shari Noonan expressed excitement at the prospect of being able to offer an expanded service offering to clients via the new partnership.

She said:

“We are excited to share Rialto’s expertise in building networks and trading solutions in the regulated securities industry to develop this new venture in partnership with Bittrex. By working together, we’ll be able to expand our current client offerings to not only include digital securities, but also provide them access to a globally advanced and reliable trading platform.”

Also reacting, Bittrex CEO Bill Shihara praised Noonan and expressed optimism that the partnership will further the cause of blockchain adoption.

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He said:

“It takes a unique combination of advanced technology and financial expertise to build and launch an efficient, reliable and secure platform for trading digital securities, and we found the ideal partner in Rialto and its CEO Shari Noonan. We’re merging Bittrex’s technology, cybersecurity and blockchain expertise with Rialto’s deep knowledge of the securities industry. And, when you add that foundation with Rialto’s extensive background in financial services, including Shari’s experience at Goldman Sachs and Deutsche Bank, this new venture is well-positioned to further advance blockchain’s adoption by offering a comprehensive solution at the right time.”

The announcement mentioned that American-registered broker-dealers, accredited institutional investors, and digital security issuers can immediately register their interest in participating or being listed on the new platform here.

In May, CCN reported that Seattle-based Bittrex, now ranked 37th on the list of the world’s largest crypto exchanges, finally signed a banking agreement with New York’s Signature Bank, allowing it to become one of the few exchanges offering fiat-to-cryptocurrency trading pairs.


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Ethereum/USD trading added on Bittrex!

Bittrex is one of the biggest digital currency trading platforms in the crypto verse. Bittrex is taking off its stage two of the US Dollar Fiat exchanging phase. This empowers retail and corporate finance specialists to trade USD for cryptographic forms of money.

With an end goal to focus on a standard gathering of speculators, Bittrex has extended their administrations to enable them to utilize fiat money [USD] to exchange digital currencies on their stage.

Today, Bittrex tweeted:
“Today we’re adding Ethereum (ETH) to USD (Fiat) markets in addition to previously announced Bitcoin (BTC), Tether (USDT) and TrueUSD (TUSD) markets. See recent blog for more information: http://bit.ly/2te1Bb7 #Bittrex”

Israel 9Izzy0, a crypto enthusiast commented:
“Great! U might as well add #XRP too or LTC for that matter”

On May 30th, Bittrex released an official announcement stating that “fiat trading on Bittrex will include Bitcoin [BTC], Tether [USDT] and TrueUSD [TUSD]” – the first step towards increasing mass adoption of cryptocurrency investing.


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More trading pairs are expected to be added apart from BTC, USDT, TUSD, and ETH.
This approach has been designed to make sure that their processes and systems are operating correctly before they make it available to their users. Bittrex has started to invite small groups of retail customers to participate in the USD markets, as the trading will help them evaluate and test their capabilities.

Bittrex CEO said:
“Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity.”


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Bittrex Exchange Will Let Investors Swap Their Dollars For Cryptocurrency

  • A U.S.-based crypto exchange lets investors buy coins using U.S. dollars.
  • In the past, the majority of alt coins could only be purchased by first converting dollars into bitcoin.
  • Working with U.S. agencies to help solve the “regulatory puzzle” of cryptocurrencies will help unlock capital, says Bittrex Founder and CEO Bill Shihara.

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Investors now have a new way to purchase cryptocurrencies using U.S. dollars.

Bittrex, a Seattle-based cryptocurrency exchange, has struck an agreement that allows investors to buy digital coins with American dollars. In the past, only coins traded on Coinbase, a digital currency exchange in California, could be bought with dollars. That is a fraction of the approximately 1500 digital coins floating around the universe of cryptocurrenices.

To buy any of the other coins, investors had to convert their money to bitcoin first. Now they have Bittrex.

Founder and CEO Bill Shihara told CNBC that the goal is to “expand out to as many markets as possible on Bittrex,” he said on “Fast Money” Friday.

“As well as expand it so that every customer on Bittrex will be able to have access to U.S. dollar trading,” he said.

The exchange might even help move the market. Since so many alt coins could only be purchased by way of bitcoin, the value of bitcoin and many other digital currencies were closely correlated. The value of those crypto units may now begin to decouple from bitcoin, Shihara said, as more investors transact in dollars.

Currently, nearly 200 different digital coins can be traded on Bittrex. The CEO said that a “small, select number of launch partners” are working with the exchange to pay in dollars.

“In this phase, we’re stress-testing our system,” he said. “We’re working with the banks very closely to ensure that they can process the FIAT deposits and withdrawals. Also, the engine itself that we use to trade, is going to be able to properly handle the load.”

Cryptocurrency is still largely unregulated in the United States, which has led many financial institutions and investors to be cautious of the coins, amid a landscape of widespread fraud and fake ICOs. Other traders have sought out foreign markets to invest in digital assets like bitcoin.

But Shihara said working with U.S. regulatory agencies on better ways to use cryptocurrency will add value to the space.

“We think that solving the regulatory puzzle in the United States really unlocks a lot of capital that really can’t trade on a foreign exchange that doesn’t have proper [anti-money laundering] controls or proper compliance,” Shihara said.


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