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Cloudbet marks Stablecoin foray with Tether launch

Content Team June 1, 2020
Cloudbet marks Stablecoin foray with Tether launch

Cloudbet, the pioneering sportsbook and cryptocurrency casino, has added Tether USD to the portfolio of available coins and marked the operator’s first foray into stablecoin betting

After a month of testing with a small group of players, Cloudbet has enabled all its customers to deposit, withdraw and wager with USDT, the digital token whose value is pegged to the US dollar.

New players depositing USDT with Cloudbet are eligible for a welcome bonus of up to $1,000. Customers can purchase the currency on the site with their credit cards or Apple Pay.

“We have greatly accelerated the rollout of our features, thanks to the systems and processes we put in place to build the new website”: spokesperson for Cloudbet.

Since it was launched in 2013, Cloudbet has built a well-deserved reputation as a trusted bitcoin operator that added Bitcoin Cash in early 2018 and Ethereum earlier this year. USDT and Ethereum are among the multitude of new features on Cloudbet’s new website, which the company launched in late April. Other added features include UFC live betting, new language options and a full esports vertical, all aimed at making Cloudbet’s comprehensive offering a definitive leader in the crypto gaming market. “We have greatly accelerated the rollout of our features, thanks to the systems and processes we have put in place to build the new website,” said a Cloudbet spokesperson. “The market can expect many more new features and new currencies in the coming months.” Stablecoins, such as USDT, have been touted as a solution for players looking to protect the value of their cryptocurrency earnings from the extreme price fluctuations experienced by holders of non-stable coins. Because its value is fixed on a 1-to-1 basis with the USD, the fiat value of earnings in Tether does not fluctuate along with market prices. For this reason, stablecoins have been offered as the key to winning over a more fiat-friendly audience to experience the advantages of gambling with cryptocurrencies. “Since launch, a core part of our philosophy has been to empower players with technologies that solve their problems,” said the Cloudbet spokesperson. “USDT and stablecoins are an extension of that.” Cloudbet sports betting offers the best prices and highest limits in a multitude of global sports markets around the world, while Cloudbet features hundreds of live slots and table games.

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