Crypto or fiat?

Is it correct that a participant will need cryptocurrency to trade on Vega? And that it will not be possible to do so if you hold only fiat?

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Hi @Dave_Mac, welcome to the forums!

Trading on Vega always happens with crypto-assets. These can be cryptocurrencies like Ethereum or Bitcoin (once the bitcoin bridge is live), or other digital assets like network tokens or stabelcoins such as DAI or USDT. So you can’t trade with fiat directly (until a central bank is brave enough to launch a digital currency!) but will be able to trade with fiat-backed and fiat-tracking stablecoins from day 1.

In fact, we expect a lot of markets to settle using stablecoins because it can be a lot more useful. For example if you export from the US to the EU, hedging the Euro in a USDT settled market could be really helpful to manage risk in your business, but a similar product settling in ETH would be a lot less useful right now. We’ll enable that sort of use case from launch.