Bitstamp, one of the world’s leading digital asset exchanges, today announced it will launch trading of XRP, the digital asset native to the Ripple Consensus Ledger.
Specifically, XRP/EUR and XRP/USD trading pairs will be available for trading on Bitstamp’s exchange beginning January 17, 2017. They will be available to all customers and regions currently supported by Bitstamp, and payment processors can utilize this XRP liquidity to facilitate cross-border payments to and from Europe.
Ripple is also pleased to announce that Bitstamp, the first and only digital asset exchange to be fully licensed to work in all 28 EU member states, is the first partner exchange for Ripple’s XRP incentive program. Designed to increase liquidity and tighten spreads, the incentive program will offer rebates and compensation to qualifying liquidity providers in XRP pairs at partner exchanges
“The relationship with Bitstamp and launch of XRP volume incentives underscores our commitment to making XRP the institutional standard bearer for value transfer globally,” notes Miguel Vias, Head of XRP Markets at Ripple. “XRP is uniquely capable of introducing more liquidity to exchanges to support global payment volume, especially in exotic corridors. Ripple’s adoption with banks puts XRP in pole position to become a global settlement asset, which translates to more liquidity for Bitstamp, and more value for institutional and individual investors.”
“After evaluating a number of digital currencies for inclusion on our exchange, it soon became clear that customer demand for XRP was particularly strong,” notes Nejc Kodrič, CEO at Bitstamp. “Fortunately, Ripple and XRP also happen to be a good fit for the requirements of our EU licence and so we are delighted to be able to respond to our customers’ needs in this way.”
Working with a greater number of exchanges to list XRP is an important step to serve the growing demand for global payments in major and exotic currency corridors. XRP was created specifically for institutional settlement in seconds. As evidenced by R3’s recent trial with XRP for interbank cross-border payments, the use of Ripple and XRP can enable both cost-cutting and revenue opportunities for participating institutions.