Blockchain.com Adds Support for ALGO Token

Blockchain.com Adds Support for ALGO Token

Blockchain.com, a provider of cryptocurrency products has extended its support to Algorand (ALGO), a Proof-of-Stake (POS) blockchain.

Blockchain.com Product Manager Amadeo Pellicce said,

“We are excited to add support for ALGO not just so that our customers can buy and sell the token, but also because it exposes more people to an advanced, high-powered and truly original crypto network.”

Blockchain.com has also launched Algo trading API in Jan 2020, for cryptocurrency traders to access the fastest matching engine and deep liquidity in crypto on the Blockchain.com Exchange using automated trading algorithms.

Algorand’s maximum supply is limited by 10 billion ALGO tokens with a circulating supply of over 770 million. The project also provides support for staking that allows holders to earn income (5% APY) by securing the blockchain network.

Algorand Foundation also partnered with Circle, a crypto-focused fintech firm in June 2020, to bring fiat-supported USD Coin (USDC) to Algorand blockchain. 

As a result of the partnership, clients of  Circle APIs and Circle Business Accounts can move funds and can move assets between traditional banks and card networks on the Algorand blockchain. Clients can also manage accounts and payment activity through Circle APIs.

Algorand is a public cryptocurrency protocol and blockchain that aims to deliver decentralization, scale, and security for all participants, its native currency is ALGO. Founded by Silvio Micali, a Turing award winner, and MIT professor.

On the other hand, Blockchain.com is a popular place where users can securely buy, sell, and store Bitcoin, Ethereum, and other top cryptocurrencies. It has steadily expanded its user base and trading volumes, while consistently releasing new features and assets.

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