Cloudbet adds USD Tether to its cryptocurrency offering
Operator continues to expand coin portfolio and hints at plans to integrate more in the future
Cloudbet has added USD Tether to its coin portfolio allowing customers to deposit, withdraw and bet with the cryptocurrency.
Following a month-long trial period with a limited number of players, Cloudbet has fully enabled its customer base to use the token, which has its value linked to the US dollar.
As part of the addition of Tether to its offering, Cloudbet will deliver a welcome bonus of up to 1,000 Tether for new customers who deposit with the cryptocurrency.
Tether is what is known as a stablecoin, a cryptocurrency which is volatility-free and offers a layer of protection to its owner.
In this case, Tether is a fiat-collateralised stablecoin as it is backed by the value of the US dollar.
In a statement, Cloudbet suggested more cryptocurrencies will be added to its offering in the future, following the addition of ether to its coin portfolio earlier this year.
A Cloudbet spokesperson said: “We’ve accelerated our feature rollouts tremendously, thanks to the systems and processes we put in place to build the new website.”
“Since launch, a fundamental part of our philosophy has been about empowering players with technologies that solve their problems. USDT and stablecoins are an extension of that,” they concluded.
Elsewhere, Cloudbet has launched an esports vertical for its online sportsbook and its own Discord channel.