XRP (XRP) Now Listed On Independent Reserve’s Platform/

XRP (XRP) Now Listed On Independent Reserve’s Platform

Independent Reserve which is an Australian cryptocurrency exchange announced on July 5 that it will support trading for the world’s third-largest cryptocurrency by market cap- XRP.

XRP will become will join Bitcoin, Ethereum, Bitcoin Cash and Litecoin as a fifth token of the exchange on the platform.

XRP will be allowed to trade from July 7, 2018, as revealed by Australia ’s crypto exchange. Originally, the exchange will let users make XRP purchases with AUD, NZD, and USD.

XRP will facilitate crypto-to-crypto trading between XRP, and Bitcoin, Ethereum, Litecoin and Bitcoin Cash. For promotion XRP trade, it will have a brokerage fee of 0.1 percent, only for XRP trading, but this promotion facility will be available only after two weeks the token has been launched on the platform.

Independent Reserve’s press release read:

 “We are excited to announce the imminent launch of our fifth cryptocurrency – XRP. XRP is the native currency of the Ripple Transaction Protocol. It is primarily used as a bridge currency for when two entities wish to trade different currencies where no pair exists.”

XRP exchange makes it convenient for institutional customers by providing over the counter services and XRP trading both, Whereas it provides XRP trading for retail investors.

CEO Adrian Przelozny said,

“The addition of XRP is in line with our strategy of adding high-quality digital currencies in a thoughtful and measured way. There is a wide universe of digital currencies out there now, but to be listed on Independent Reserve they need to meet a range of criteria including quality, stability and volume metrics. Our clientele has been requesting XRP, and we felt this timing was right to offer it to them,” 

Independent Reserve will become the first trading desk in the country to be fully authorized. The crypto platform has been approved by the Australian Transaction Reports and Analysis Centre (AUSTRAC), which is in charge of monitoring the crypto environment in the country.

All exchanges are also required to comply with the anti-money laundering (AML) laws and counter-terrorism financing regulations. Independent Reserve is not the only exchange that received approval from AUSTRAC to provide XRP trading. CoinSpot, another crypto exchange based in Australia also supports XRP trading.

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