The United Kingdom’s only dedicated multi-cryptocurrency exchange, London Block Exchange [LBX] has added Ripple [XRP] today to the coins it offers to its customers. Ripple is now the fourth cryptocurrency offered by the new Block Exchange, LBX.
LBX tweeted earlier:
“We’re now offering the ONLY
#GBP/ #XRP pairing.”
The London exchange was established in November for over the counter [OTC] trades and is currently on-boarding retailers to its user-friendly application. This app is backed by world-class customer service while also following Strict KYC/AML protocols. An acclaimed daily market report is sent to all the members, which can be viewed on their site or the Telegram channel.
Ripple is now added to the tradable list of currencies on the exchange platform LBX allowing the trade of the 3rd largest virtual currency directly around the pound to its customers. All of these 4 currencies can now be traded against the Dollar, the Pound or the Euro. Ripple was also added by digital wallet Uphold and Thai Digital Asset Exchange this week.
This means that LBX is not only the sole operator in the market offering on-shore UK banking. Although, it is the only exchange offering the XRP/GBP pair.
The exchange will also add further materials to its site which will be educational. The ‘college of crypto’ includes an array of coin tutorials along with blockchain basics and crypto specs. They have also focused on wallets, forks, and security while aiming to help the newbies in the crypto-world to make knowledgeable choices.
Benjamin Dives, the CEO and Founder of LBX quoted:
“As we open our doors to UK crypto enthusiasts, we’re listening and acting on what the community wants. That’s an array of good quality coin options to trade, all backed by a reliable, comprehensive and user-friendly service that they can trust. Also, we’ll be adding more coins by the week. So watch this space.”
Garry Hackinson, a cryptocurrency enthusiast says:
“Way to go Ripple, you have always been on the positive side. I hope this is a huge thing very soon and will rip off all the haters who have been claiming Brad as a fraud and Ripple as a scam project, Buhaha.”
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Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability
Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
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