Independent Reserve, the Australian digital currency exchange, will commence trading in Ripple (XRP) on 7 July, 2018.
All XRP trades will be discounted to 0.1% for the first two weeks.
XRP is the third largest digital currency by market cap after Bitcoin and Ether. Developed by Ripple Labs, the protocol and currency were designed with the banking and institutional market in mind, enabling fast, low-cost transfers between fiat currencies as well as other assets including gold and airline miles. Ripple Labs has partnerships with a wide range of institutions around the world including NAB, Westpac and American Express. Its current market cap is around USD $18 billion. One XRP is currently trading at around USD $0.46.
Independent Reserve CEO Adrian Przelozny said the exchange would offer the product direct to retail investors through its exchange, as well as over the counter to institutional customers. “The addition of XRP is in line with our strategy of adding high-quality digital currencies in a thoughtful and measured way,” he said. “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 have been requesting XRP and we felt this timing was right to offer it to them.”
XRP will be available to trade on Independent Reserve at 7pm on 7 July. Users can buy XRP with AUD, NZD and USD, and trade between XRP and other digital assets including Bitcoin (XBT), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
