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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Facebook’s entry a positive signal to blockchain & crypto markets, claims Ripple’s Brad Garlinghouse
As the influx of new players into the crypto-ecosystem grows, the industry has come a long way from its inception a decade ago. The industry has forced mainstream institutions such as Facebook and JP Morgan to join the race. While the world speculates on Facebook’s next move as a global power, in-house competitor Ripple is on a partnership spree to ensure a comfortable XRP market.
To clear out the FUD, Ripple CEO Brad Garlinghouse discussed the intent and roadmap behind the recent MoneyGram-Ripple partnership. While enabling XRP-powered money transfer services, Ripple’s $30 million investment seems to be part of a game plan for increased adoption.
Garlinghouse shared his optimism for the move after his company’s beta network recently matched Western Union’s performance for cross-border payments. Further, he is certain about Ripple’s ability to improve MoneyGram’s infrastructure by eliminating the traditional pre-funding process. Garlinghouse added,
“Our (Ripple’s) product allows companies to avoid pre-funds and just shoot the payments in real time. That’s a massive savings in terms of efficiency and capital costs.”
As a result of this partnership, Ripple will hold a 6% – 10% share in MoneyGram, helping the crypto giant’s vision to enable mass adoption. Further, the CEO correlated the development with the company’s ultimate roadmap. He said,
“We will continue to build out and expand the number of corridors. We work with over 200 banks and financial institutions today.”
Garlinghouse also shared Ripple’s contributions toward enabling liquidity in the Mexican and Philippines market. Although the XRP market stands as one of the biggest disruptors in the cryptospace, Garlinghouse applauded Facebook’s recent Libra initiative. He commented,
“It’s incredibly positive signal to the overall blockchain and crypto market to have a player like Facebook leaning in.”
While a positive sign for the crypto-market, it will be interesting to see the direction Facebook’s crypto-initiative takes, which is currently speculated to be pointing toward a consumer-oriented payment system.
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