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XRP listed as base pair on institutional-grade exchange DCEX for Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and more

Anirudh VK



XRP listed as base pair on institutional-grade exchange DCEX for Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and more
Source: Unsplash

DCEX, a registered cryptocurrency marketplace for retail and institutional investors, announced that it will be using XRP as the exclusive base currency for trading. This means that all cryptocurrencies on the exchange will be traded against XRP, for a total of 15 coin pairs.

The pairs with XRP offered are Bitcoin [BTC], Litecoin [LTC], Ethereum [ETH], Bitcoin Cash [BCH], Bitcoin Gold [BTG], Ethereum Classic [ETC], OmiseGo [OMG], EOS [EOS], DASH [DASH], Tron [TRX], Monero [XMR], VeChain [VEN], IOTA [IOTA], ZCash [ZEC], stablecoin TrueUSD [TUSD], with plans to add Neo [NEO] and Cardano [ADA]. The exchange has also promised more pairs in the coming months.

Keeping in line with their vision of providing a product for institutional investors in the space, all ten coins listed for the Bloomberg Galaxy Crypto Index [BGCI]. The exchange is slated to open in the coming weeks, with registrations for new users already open. DCEX will also allow for features such as arbitrage trading across exchanges due to XRP being listed as the base pair. Their statement says:

“XRP as a base currency allows for seamless, high-speed transfers between exchanges to take advantage of price inefficiencies.”

This also allows for faster execution times with a very low latency, which is what the DCEX platform is designed for. It reportedly allows for a transaction volume of one million transactions per second. They furthermore praised XRP, stating:

“XRP blockchain transactions typically settle in under four seconds, allowing for faster multi-exchange strategies and providing a speed advantage over other money movement options.”

This, in turn, enables users to engage in what DCEX is calling “high-frequency crypto trading”. This lets users connect to APIs to execute cryptocurrency trading strategies that would require a high speed to successfully occur.

The addition of XRP serves another purpose, which DCEX states will effect an increase of overall liquidity in the market. The press release states:

“Availability of novel currency pairs allows for new conversion pathways for market participants and gives traders easy ways to access many of the top cryptocurrencies.”

Moreover, the exchange states that it’s lower transaction fees will enable market participants to move XRP between DCEX and other exchanges for a low cost. It also offers margin trading to allow for leveraging.

Notably, the exchange is currently registered with the Financial Crime Enforcement Network [FINCEN]. It has also reportedly taken initial steps to become “registered, fully regulated, and compliant” in line with the United States Securities and Exchange Commission [SEC].

Elias Yami, a cryptocurrency analyst, stated:

“The move of an exchange that is on the cusp of institutional adoption is interesting to say the least. While the preliminary steps of ensuring that the exchange is compliant with regulation have been taken, it will be interesting to see how XRP will function in this scenario. Moreover, statements of “increasing liquidity” seem to point towards the support for xRapid to be integrated in the exchange. This seems like a natural fit for an exchange based on XRP.”

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.


Ripple-backed XRPL Labs releases XRPayments on Playstore and App store

Namrata Shukla



Ripple-backed XRPL Labs releases its XRPayments on Playstore and App store
Source: Pixabay

The Ripple-backed startup, XRPL Labs had been working on various technologies to develop the ecosystem. One of these technologies, XRPayment, was in its testing phase and has been finally launched and made available on the Google Play store and Apple app store.

Wietse Wind, the developer of XRPtipbot and one of the developers at XRPL Labs, informed the XRP community about this on his Twitter. Wind stated:

“Right on time! 🎉 🎉 🎉 Our XRPayments app was just accepted by Google and Apple. You can get the app now from the Apple iOS or Google Play store, and start accepting $XRP for payments in your physical store!”

The application received a lot of traction, especially from the XRP enthusiasts, however, one of the users pointed out an issue he encountered while using the application. Twitter user @almost_summer_ asked Wind:

“hi Wietse great job! just downloaded it, if i open the coinbase or uphold wallet app i can scan the QR but it does not auto fill in the amount of XRP to send. the XRPay web version did fill in the amounts. is that supposed to be like that?”

Wind replied to the user saying that the team wanted users to think about the amount they and perhaps tip the service. He also added:

“Some wallet apps can read a pre filled amount, and the web version implemented that, thus breaking support with some other clients. For this app we wanted 100% support, so we left out the pre filled amount feature for now.”

Wind and the team are also working on a ‘signing platform’ which will enable the users to sign and approve transactions from an application or the web application from any developer, without sharing their mnemonic, through a push message or QR code.

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