Wednesday, December 8, 2021

Bitrue to Become the First Crypto Exchange to List Cardano-Based Tokens

Bitrue, an XRP-centric cryptocurrency exchange, will soon become the first exchange to support Cardano-based crypto assets.

The new development was shared on 19th July 2021 via the official Twitter handle of the crypto exchange Bitrue. According to the report, the native token of OccamFi, OCC, will be the first to get listed on the exchange.

Read Also: Charles Hoskinson Stresses the Uniqueness of Djed, Cardano’s Upcoming Algorithmic Stablecoin

Bitrue exchange tweeted, “Bitrue will be the 1st exchange to support Cardano native assets! These are tokens built on the Cardano ADA chain, giving them great scalability, flexibility and speed. The 1st is $OCC OccamFi support before the end of the month.”

Based on the report, OccamFi’s OCC will be live on Bitrue by the end of the month. OccamFi is a decentralized finance (DeFi) launchpad for other projects that wish to leverage Cardano (ADA) liquidity that is not currently used vastly

Read Also: Cardano’s Charles Hoskinson Introduces Djed, an Algorithmic Stablecoin Protocol for DeFi Sector

Describing native assets, Bitrue says “Native assets allow individuals and companies to mint their own tokens directly on the Cardano blockchain. The resulting tokens can then be sent on the blockchain just like ADA, and can be used in all the same ways as a regular coin, such as in trading or held as a long-term investment.”

By the end of the month, users will be able to deposit and withdraw both the ERC20 and Cardano forms of OCC to Bitrue seamlessly and trade the assets in a unified market for OCC.

According to the report, as Cardano blockchain advances into an established network for smart contracts, Bitrue looks forward to sealing more partnerships with Cardano in the coming months.

Read Also: Cardano Advances to Alonzo White, Brings the Network Closer To Smart Contracts Era

Describing Cardano native assets, Bitrue wrote:

“Cardano Native Assets represent a third-generation solution for asset tokenization on a blockchain. This is due to the unique design of Cardano as a multi-asset ledger, where the technical complexities to both issue (minting), manage, and own a blockchain-based asset are greatly reduced.

“The multi-asset ledger is a cornerstone that enables Cardano to be a global financial operating system and serve as a platform for a multitude of businesses and applications to be integrated.”


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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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