Ripple, the company behind the XRP coin, continues its efforts to gain a foothold on the trading pair lists of leading cryptocurrency exchanges. The issue of adding XRP to US trading platforms is more relevant than ever for Ripple.
Despite the company’s clear success in the field of real integration of crypto technologies into the financial world, the digital asset XRP is still not listed on the largest crypto exchanges in America and Asia. The firm is willing to pay millions of dollars to trade on major platforms.
Ripple reportedly offered $1 million in funds to Gemini for listing back in the third quarter of 2017. The company has now offered a $100 million loan in XRP to the Coinbase exchange, with which investors could trade on the site. It was planned to accept both fiat and XRP as repayment. Representatives for Gemini and Coinbase declined to comment on these developments. Although the platforms do not have a very extensive list of cryptocurrencies, and such a large loan obviously will not hurt them.
Gemini is currently listing Bitcoin and Ethereum, while Coinbase traders have BTC, BCH, ETH and LTC at their disposal.
In normal exchange practice, listing is a set of procedures for including securities on the exchange list - a common practice. The initiator of such a procedure for listing a security on the stock exchange is the issuer. But for the unregulated cryptocurrency market, this is a new practice.
From a legal point of view, the listing fee does not violate financial regulations until the regulatory framework is developed and the status of XRP is determined. However, concerns concern the decisions of market regulators. If digital assets, particularly XRP, are classified as unregistered securities, things could change. In this case, both the platforms and the issuer of tokens will face fines.
Positive news about Ripple’s successful activities in the field of cooperation with banks does not add to a noticeable increase in the popularity of cryptocurrency. It is known that none of the 180 projects concluded by Ripple since 2016 were based on the use of XRP. All the projects of this company, oddly enough, do not require cryptocurrency. XRP is used primarily in the xRapid product.
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