Ripple Inc. – a distributed ledger startup – recently endorsed three digital currency trading platforms as its “preferred partners” for carrying out is xRapid payment services, which utilizes the digital currency XRP (XRP).
The Preferred Digital Currency Trading Platforms of Ripple
Ripple made this announcement on Thursday, and the firm listed its preferred digital currency trading platforms as Bitso, Bittrex, and Coin.ph in a bid to enhance the adoption and ecosystem of XRP (XRP). The chief market strategist of Ripple – Cory Johnson, said that the company is basically encouraging all its users in the United States Philippines, and Mexico to use Bittrex, Coins.ph, and Bitso respectively, for carrying out transactions using its xRapid service.
During an interview, Johnson said that in the United States, the gold standard, and the official partner of Ripple is Bittrex. So any bank or financial institution in the U.S can go to Bittrex and have guaranteed liquidity right away, exchange the US dollar for XRP, zip over to Bitso in Mexico – the official partner of Ripple in Mexico – and convert to Mexican pesos.
He added that the banks would need to have an account with the trading platform in order to convert USD, Philippine or Mexican pesos.
Why Ripple Chose Bittrex, Coin.ph, and Bitso
The three trading platforms were chosen by Ripple as a result of their XRP holdings, enabling them to provide a higher level of liquidity. He said that there are a lot of firms across the globe that are using XRP (XRP) and what Ripple is doing right now is identifying three other trading platforms that have a bunch of XRP liquidity and channeling more liquidity their way.
XRP (XRP) Price Today – XRP / USD
At the time of writing, XRP is changing hands at $0.306 after an increase of more than 6.5 percent over the past twenty-four hours. The current market cap of the digital currency is $12.06 billion with a trading volume of $266.88 million over the past twenty-four hours.