Deel dit artikel
BTC
$118,231.10
+
0.27%ETH
$3,805.17
+
0.73%XRP
$3.1185
-
0.77%USDT
$1.0000
-
0.00%BNB
$811.48
-
2.43%SOL
$181.15
-
3.14%USDC
$0.9998
+
0.00%DOGE
$0.2245
-
2.83%TRX
$0.3373
+
4.45%ADA
$0.7861
-
2.09%HYPE
$43.01
-
2.81%SUI
$3.8307
-
6.05%XLM
$0.4206
-
0.92%LINK
$17.87
-
2.96%HBAR
$0.2673
-
1.61%BCH
$565.66
-
2.59%AVAX
$24.68
-
6.09%WBT
$43.90
+
0.05%LTC
$108.92
-
0.98%LEO
$8.9685
+
0.03%Sign Up
- Back to menuCryptocurrencies
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
Ripple Endorses 'Preferred' Crypto Exchanges for XRP Payments
Ripple is recommending three cryptocurrency exchanges as the "preferred partners" for transacting on its xRapid payments platform.
Distributed ledger startup Ripple has endorsed three cryptocurrency exchanges as its "preferred partners" for transacting with its xRapid payments service, which uses the cryptocurrency XRP.
Announced Thursday, Bittrex, Bitso and Coins.ph will now serve as Ripple's "preferred digital asset exchanges" as part of its efforts to build out the XRP ecosystem.
STORY CONTINUES BELOW
Mis geen enkel verhaal.Abonneer je vandaag nog op de Crypto Daybook Americas Nieuwsbrief. Bekijk Alle Nieuwsbrieven
Cory Johnson, Ripple's chief markets strategist, told CoinDesk that the firm is essentially encouraging all of its clients in the U.S., Mexico and the Philippines to use those three exchanges, respectively, for sending funds using its xRapid service.
"So in the U.S. we're saying the gold standard, our official partner is Bittrex. So any bank can go to Bittrex and have guaranteed liquidity on the spot, trade their dollars for XRP, zip over to Mexico to Bitso, our preferred partner there, and convert [to Mexican pesos]," he said in an interview.
The financial institutions would need to have accounts with the exchanges to convert U.S. dollars, or Mexican or Philippine pesos, according to Johnson.
The three exchanges were chosen due to their XRP holdings, allowing them to provide higher levels of liquidity, he said, adding that "there's a whole bunch of companies around the world that are using XRP and what we're doing is identifying three other [exchanges] that have a lot of XRP liquidity and steering more liquidity their way."
While Ripple has only announced three exchanges so far, Johnson said more names are to follow.
He explained:
"The corridors we're focused on [are] organic ... we want to focus on busy corridors. We want to focus on places where there's a very vibrant XRP marketplace, and we want to focus on places where we can have the most value."
Ripple needs to determine where these places are, he said. As an example, he noted that Taiwan and the Philippines see large volumes of trading compared to other international corridors, meaning Ripple could focus more attention on that corridor.
Ripple image via Shutterstock
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk's blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
Meer voor jou
WIF Suffers Sharp 11% Decline Before Mounting Recovery to $1.21
Solana-based digital asset demonstrates institutional resilience following support test at $1.16, as large-scale investor activity and technical formations suggest potential upside momentum.
Top Stories
