Bitfinex, a leading digital asset trading platform, has announced support for deposits and withdrawals of Tether USD (USDt) and bridged Tether Gold (XAUt) on the Polygon zkEVM transport layer. This integration enhances accessibility and efficiency for users transacting with these assets.
Key Features of Polygon zkEVM Integration
- Scalability: Built as an Ethereum scaling solution, Polygon zkEVM uses zero-knowledge proofs to enable faster and cheaper transactions while maintaining Ethereum-level security.
- Supported Assets: Initially includes bridged USDt (launched September 27) and XAUt (launched October 4).
- User Benefits: Lower transaction costs and improved speed compared to mainnet operations.
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Statements from Bitfinex
Henry Child, Head of Tokens at Bitfinex, emphasized the platform’s commitment to innovation:
“This integration reflects our focus on providing customers with cutting-edge networks like Polygon’s zkEVM, ensuring they can trade and transfer assets efficiently.”
Timeline for Rollout
| Asset | Launch Date & Time |
|---|---|
| USDt | September 27, 2023 |
| XAUt | October 4, 2023, 12 PM UTC |
Frequently Asked Questions (FAQ)
Q: What is Polygon zkEVM?
A: A zero-knowledge-based Ethereum Virtual Machine (EVM) compatible scaling solution designed to reduce gas fees and increase transaction throughput.
Q: Are there geographic restrictions for Bitfinex users?
A: Yes. U.S. persons and other prohibited jurisdictions cannot use Bitfinex’s services per its Terms of Service.
Q: How does this benefit traders?
A: Users gain access to faster, cheaper transactions for bridged stablecoins and gold-pegged tokens.
About Bitfinex
Founded in 2012, Bitfinex offers advanced trading tools, liquidity solutions, and margin trading for a wide range of digital assets. The platform prioritizes security, innovation, and user experience.
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Media Contact
For inquiries, reach out to Bitfinex’s press team.