Bitfinex: A Crypto Exchange Giant With Over 170 Cryptocurrencies and Billions in Daily Volume
Bitfinex, one of the oldest active cryptocurrency exchange platforms, continues to be a significant player in the market. Founded in 2012, it offers over 170 cryptocurrencies and 400 trading pairs, making it a popular choice for traders.
Bitfinex is renowned for its high liquidity. It frequently ranks among the top 3 or 4 largest BTC/USD pairs and consistently places in the top 10 global exchange platforms by total trading volume, with billions of dollars traded daily. The platform records between $1 and $2 billion in daily spot market volume.
Bitfinex caters to both retail and institutional clients. It offers customized APIs, prime brokerage services, and a dedicated OTC desk for institutions. Significant institutions working with Bitfinex include PayPal Ventures, which has partnered with Bitfinex-backed Stable to integrate PayPal's PYUSD stablecoin into its blockchain. This integration enables fast, seamless peer-to-peer payments, remittances, and cross-border transactions.
Bitfinex provides a range of services to its institutional partners, including high liquidity, reliable trading infrastructure, advanced trading tools like derivatives and margin trading, and support for high-frequency and institutional trading with low latency execution.
Bitfinex, owned by iFinex Inc. and based in the British Virgin Islands, has evolved significantly since its founding in 2012. It has strengthened its security measures following a 2016 breach and now stores the majority of user funds in cold storage. With its extensive range of cryptocurrencies, high liquidity, and robust institutional services, Bitfinex continues to be a major player in the cryptocurrency exchange landscape.
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