DX.Exchange, a crypto platform that soft-launched in January, has added support for secondary trading of security tokens.
The remittance coin of XRP is further increasing its liquidity through listings in 3 new exchanges. These new listings hope to kick start a second half of 2018 for XRP in the best possible manner.
The first exchange to announce that it will be listing XRP on its platform is DX.Exchange. In a tweet, the fully EU regulated exchange announced that it would list the digital asset on its yet to be released platform after it conducted a facebook poll. The tweet that was made on June 4th stated that:
Here’s the winner of our Facebook Poll:
@Ripple’s XRP will be available when DX.Exchange launches and an essential part of our community. #exchangeyourway
DX.Exchange will be launched later on this month on July 25th. The exchange is currently allowing for the pre-registration of new users through its website.
The second exchange that announced it will be supporting XRP, is the Australia based, The Cryptocurrency Exchange. The exact announcement via twitter stated the following.
Our worst kept secret is now official! Independent Reserve will be releasing Ripple XRP on Saturday 7th July at 7pm AEST.
Enjoy 0.1% brokerage fees on XRP trading for 2 weeks!
As part of this we will be performing maintenance from 1pm.
Read more here:https://t.co/LfvQnJlXf1
— The Cryptocurrency Exchange (@indepreserve) July 5, 2018
The exchange goes on to state, via its official website page, that they are excited to launch the 5th crypto asset on its exchange: XRP. They will be launching the digital asset with an introductory brokerage fee of 0.1% specifically for XRP. This offer will only last for 2 weeks therefore users are advised to put in their trades as early as July 7th after routing maintenance is complete on the platform.
The third crypto exchange to announce that it will list XRP, is the India based Unodax exchange. In the twitter announcement, the exchange stated that:
Unodax is introducing 17 crypto-to-crypto trading pairs today with three base coins. Base coins are BTC – ETH – XRP.
This move by UnoDax can be understood for the Reserve Bank of India has placed a ban on only crypto-to-fiat transactions that are mediated by banks. This means that there is no fiat-to-crypto conversion (and vice versa) in the country. However, crypto-to-crypto trading is still allowed.
Unodax makes this statement clear via its medium page when it states that the exchange is ready for trading through the base pairs of BTC, ETH and XRP. This is how it will continue with normal operations after the fiat-to-crypto ban in the country.
In conclusion, XRP continues to expand across the globe through the listings on the 3 aforementioned exchanges and not forgetting the equally exciting listing on SBI Virtual Currencies. More listings means more visibility for XRP in the crypto markets, hence driving up demand and consequently the value of the digital asset.
Brad Garlinghouse, in his interview with CNBC during the European tour of the Money 20/20 event, stressed the importance of Ripple’s (XRP) liquidity when banks use xRapid for international payment settlements. The same liquidity is what XRP has been attaining by getting listed on numerous exchanges and wallets. The most recent listings being ZebPay, Revolut, and SBI Virtual Currencies (VCTRADE).
Therefore, it is no suprise that XRP has received enormous support in terms of being listed in the yet to be launched, DX.Exchange. XRP managed to achieve this through a facebook poll conducted by the exchange in a manner that is true to decentralization. The Ripple facebook community voted overwhelmingly to have their favorite coin listed in the exchange.
DX.Exchange had this to say via twitter with respect to the poll and listing of XRP on its platform:
Here’s the winner of our Facebook Poll:
@Ripple will be available when DX.Exchange launches and an essential part of our community. #exchangeyourway
The announcement was accompanied by a video that gives a brief history of Ripple and its achievements in terms of giving almost instant payment settlement solutions across the globe.
The DX.Exchange is being built on Nasdaq’s market leading matching technology and is currently carrying out pre-registrations on its website. When launched, the exchange will allow individuals and institutions to purchase cryptocurrencies with fiat; trade crypto on the platform; as well as converting them back to fiat. The exchange is licensed in Estonia under the Estonian Ministry of Economic Affairs and Communication. With transparency and security as key ethos by the exchange, user funds and information will be secure on the platform through the use of advanced encryption.
With respect to the market performance of XRP, the coin is currently valued at $0.674 and up 2% in 24 hours at the moment of writing this. The general feel in the crypto-markets is of stability with Bitcoin (BTC) back at the the welcome levels of $7,600. The total market capitalization of the crypto-markets has also maintained levels of above $330 Billion for the first half of this week. All fingers are crossed that this value will not subside, but rather continue to increase during the month of June.
News reaching Ethereum World News indicate that the Consensus Summit, currently happening in New York, will most likely triple in size with respect to attendance when compared with 2017. Such news is also in tandem with the current feel and action of big money getting into crypto in the form of major banks and Wallstreet firms. Notable names that have embraced blockchain technology or cryptocurrencies include J.P Morgan Chase, Soros Fund Management, VenRock, PWC, just to name a few. Also to add to the list is the American based Nasdaq Stock exchange with its backing and support of a new fee-less exchange known as Dx.Exchange.
In an exclusive report from FinanceMagnates.com, the exchange will first feature trading that consists of the current top 6 coins and coins in the crypto-markets. They are: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS) and Litecoin (LTC).
The new exchange will launch next month and will feature an easy sign up procedure with early registration currently ongoing. Dx.Exchange is regulated by the Estonia Financial Supervision Authority (EFSA). US based customers will be excluded from using the platform until further dialogue is conducted with US regulators.
The Dx.Exchange CEO, Daniel Skowronski, was emphatic about the news and had this to say:
The advantage of this [Nasdaq] cooperation is threefold: the brand name, the technology and the regulations.We [have] created a one-stop-shop for exchanging fiat and crypto, holding coins and as well as wallet services.
Mr. Skowronksi also elaborated on how they will add additional coins and tokens with time:
We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed
To note is that there will be a monthly fee on the site of around 10 Euros. This is a drop in the ocean considering all the fees charged by other exchanges when you do the aggregated total using the daily transactions some seasoned crypto-traders do.
There will also be an internal chat in the exchange for users to interact and share ideas as well as a newsfeed on all the coins and projects.
[Photo source, financemagnates.com]