AAX first crypto platform to add wETH support
AAX, the world’s first LSEG Technology powered crypto exchange, announced on Sunday that it has added deposit and withdrawal support for Wrapped Ether, becoming the first crypto exchange to do so.
Wrapped Ether is an ERC-20 token pegged on a 1:1 ratio to the price of Ether (ETH). The Hong Kong-based exchange revealed that the new feature would offer users unparalleled interoperability and ease of transaction between Ether and other ERC-20 compatible tokens.
In addition, the company noted that it would also provide low-cost, real-time settlements via Polygon Network for miners.
Ben Caselin, Head of Research & Strategy at AAX, said in the announcement:
“Adding support for Wrapped ETH is not just a play on hype, but rather the implementation of a proven solution that benefits Ethereum miners, arbitrageurs and everyday traders who may want to move seamlessly between AAX Exchange and Ethereum-based DeFi platforms.”
With the new integration, users would be capable of using wrapped Ether to withdraw any crypto directly from AAX and further deposit them into dApps, mining pools, and more.
The post AAX first crypto platform to add wETH support appeared first on Our Bitcoin News.
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