Starting today, there will be new stablecoins on OKEx!

The third biggest crypto exchange by market cap announced that it is adding four US dollar-backed stablecoins to its platform.

Four New Stablecoins on OKEx

Let’s catch up. Stablecoins are cryptocurrencies that are backed on a one-for-one basis with a fiat currency. For example: if a stablecoin is backed by the US dollar, then every one stablecoin can be traded equally for one US dollar. So, as their namesake suggests, stablecoins provide just that—stability. Stablecoins are ideal for investors who worry about price volatility in the marketplace. They can be traded against other cryptocurrencies and, in theory, should bring a level of price regularity to this market.

So OKEx will roll out the new stablecoins today and tomorrow. But what coins are they?

Four New OKEx Stablecoins

The new stablecoins on OKEx are as follows: TrustToken’s TrueUSD (TUSD), the Gemini Dollar (GUSD), Circle’s USDCoin and Paxos Standard Token (PAX).

But stablecoins have faced controversy in recent months, so OKEx’s listing might come as a surprise. More specifically, the controversy has surrounded the pioneering stablecoin TETHer (USDT).