BitForex, one of the world’s largest cryptocurrency exchanges, announced that it will list the MILE coin.
The official listing of MILE will begin on November 16 and open trading at 16:00 Beijing time (8:00 UTC). At the same time, the cryptocurrency exchange will start supporting the deposit and withdrawal of MILE.
Simultaneously on BitForex, two trading pairs will be launched: MILE/BTC and MILE/ETH. In terms of U.S. dollar value, the starting price of 1 MILE is 1.70 USD. Current MILE market capitalization is 1.7B USD.
“We are happy to welcome MILE on BitForex,” said Garrett Jin, Vice President of BitForex. “We do see huge potential in stablecoins because of their special role in the development of the blockchain industry. For sure, we need new cryptocurrencies that will be way more technological, decentralized and transparent, and the MILE could be one of them”.
The MILE coin is a part of an ecosystem of the same name where it operates alongside another stablecoin known as XDR. If MILE is the coin with a fully flexible exchange rate, XDR is a socially algorithmic stablecoin, which allows everyone to make an emission of a given coin. XDR have the same value as the highly stable IMF SDR, which has only changed in price by 11 percent since 1981.
BitForex has plans to list XDR following the launch of MILE on the exchange. More details to come about that milestone soon.
About the MILE Ecosystem
The MILE ecosystem is designed for use in cross-border currency trading, remittance and investments in countries all over the world by Lotus Mile, the name used by the unknown person or people who developed MILE blockchain. The negotiations about the MILE blockchain real world applications have been started with many governmental and commercial organizations in Japan, China, South Korea, Turkey, Brazil, Russia, Kazakhstan, Namibia, Uganda and others.
Established in 2017, BitForex is one of the world’s leading digital asset trading platform dedicated to providing users with safe, professional and convenient cryptocurrency trading services. It is especially popular in China. According to Coinmarketcap, currently BitForex is in Top-10 among other crypto exchanges with the daily trading volume of several hundreds millions USD.