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The Digifinex cryptocurrency exchange is replacing the tether (USDT), stablecoin with a rival, TrustToken’s TrueUSD (TUSD). Tether and TrueUSD are designed to hold a constant value against the dollar.
CoinDesk notes that Singapore-based Digifinex is the 16th largest exchange by trading volume, citing data from CoinMarketCap.
Kiana Shek, Digifinex’s co-founder, told CoinDesk she’d been “looking for ways to get rid” of tether for months, adding, “I simply don’t believe in tether but I had no choice” but to list it.
Tether had no comment. In the past, it has said that each of its coins is backed by a dollar held in reserve, but multiple observers have challenged this claim. Read more here.
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