FX: Cryptocurrency exchanges expand offerings as concerns remain

Data from the Cambridge Centre for Alternative Finance’s 2017 Global Cryptocurrency Benchmarking Study indicate that almost three quarters (72%) of large cryptocurrency exchanges now provide trading support for two or more cryptocurrencies.

Bitcoin is supported by all exchanges, while of the remaining 1,273 cryptocurrencies in existence, as of November 8, the most commonly traded are ether and Litecoin.

Study participants report cryptocurrency trading in 42 different national currencies and more than half (53%) of exchanges support national currencies other than the five global reserve currencies, although the market is dominated by the four national currencies US dollars, euros, yen and onshore renminbi.