Bitstamp is launching fresh markets for Ripple’s XRP digital asset.
The launch, set for 17th January, will see the exchange offerande trading pairs for USD/XRP and EUR/XRP. The company already serves spil a Ripple gateway (where money comes in or leaves the network) and hosts a bitcoin-denominated market for the digital asset.
Bitstamp is kicking off the fresh offerings with a two-part program that will see it give rebates on trading fees, spil well spil incentives to market makers who bring liquidity to the exchange, tho’ Ripple says the details of the latter are still being finalized.
The stir comes during a period of switch for the San Francisco-based startup. Chris Larsen stepped down spil CEO ter November, handing the reins to former AOL exec and then-Ripple voorzitter Brad Garlinghouse.
Yet it’s the startup’s growing visibility among the world’s financial institutions that’s perhaps more at play here.
Te September, Ripple raised a $55m Series B round that included support from big banks like Standard Chartered, Siam Commercial Canap and Cárcel Santander. A month straks, the startup would disclose details of a test involving a dozen universal banks that tested the use of XRP to provide liquidity to canap accounts.
Miguel Vias, the former CME general head of precious metals and metal options who joined Ripple spil head of XRP markets te November, said that the launch fits into the startup’s broader project of getting XRP on more exchanges.
He told CoinDesk:
“Wij truly want nice, wholesome, good liquid activity on day one so wij’re having deep conversations with our market makers, some of whom have bot around for a long time.”
According to Bitstamp, the stir wasgoed driven by user request. At the same time, it suggests a deepening role for the rock hard spil a gateway within the Ripple network.
“It’s clear that Ripple and its digital asset XRP are a natural gezond for the stringent requirements of the EU license wij hold here at Bitstamp,” CEO Nejc Kodrič said te a statement. “There is also high request from our customers for XRP trading and so wij are looking forward to proceed responding to their needs ter a very regulated and compliant trading environment.”
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake te Ripple.
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