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XRP [XRP] and Ethereum Classic [ETC] to be launched with USD on Bittrex




XRP [XRP] and Ethereum Classic [ETC] to be launched with USD on Bittrex
Source: Unsplash

On 8th August, Bittrex, one of the leading exchange platforms around the world, has announced that they will be launching USD markets for XRP [XRP] and Ethereum Classic [ETC] on their platform. The launch of the market is set to happen on 20th August 2018.

The exchange platform on Twitter announced:

“Get ready – we’re adding more US dollar (USD) markets on @BittrexExchange. On August 20, we’re launching USD (fiat) markets for ETC & XRP.”

Bittrex states that the reason for adding the XRP/USD and ETC/USD trading pairs on the platform is to enable their customers to buy cryptocurrency with USD directly and provide USD pairing for customers that will only be listed on their exchange platform.

The exchange platform further states that the USD pairings is a step towards the adoption of blockchain technology. This would also decrease the dominance and influence of one particular cryptocurrency on other tokens in the crypto space.

The platform said:

“We’re going to continue adding tokens to our USD markets, providing our customers even more convenient, fast and secure trading options as well as access to some of the world’s most innovative blockchain projects.”

The news came into the limelight after the exchange platform announced that they will be opening USD market for their customers. Customers can avail either the ‘USD trading only’ or ‘USD trading, withdrawal and deposit’ service provided by the platform.

The service is available for customers with a personal account and corporate accounts. Moreover, only customers who live in California, Washington State, Montana and qualified international customers are eligible to participate in the USD markets. The exchange platform has stated that they will be adding more states to their new market soon.

With the addition of XRP and ETC to the platform’s USD market, Bittrex will have a total of six cryptocurrencies in their USD market. The other cryptocurrencies are Bitcoin [BTC], Ethereum [ETH], Tether [USDT] and TrueUSD [TUSD].

XRP Trump, an XRP and Ripple enthusiast says:

“Good. Now let’s see if BTC and ETH can compete with XRP on a more level playing field. It’s easy to exploit network effects when users don’t have a choice but now it’s a choice between between 3.5s transfer for 0.00001 XRP vs 1 hour transfer for a few bucks!”

Crypto_n_more, a Twitterati says:

“@coinbase they coming for you in all angles, better hurrah up with them … listings with the quickness or you will be forgotten by next year, remember #CRYPTO moves fast…. and @BittrexExchange is making chess moves on you…..”

Shubham, another Twitterati says:

“Bittrex will add USD trading pair with Xrp after 20 August. One step towards decoupling from bitcoin”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


XRP: XRP Tip Bot creator reveals plans to get European banking licence; nicknames it ‘legacy network’

Akash Anand



XRP: XRP tipbot creator reveals plans to get European banking licence, nicknames it 'legacy network'
Source: Pixabay

A vast majority of cryptocurrency organizations have been trying to integrate digital assets with the existing financial system. Ripple has been a prime example of this process, with the Brad Garlinghouse-led company announcing multiple partnerships with mainstream banks and other fiat-enabled bodies. Ripple’s affiliation with XRP, the third largest cryptocurrency in the market, is also reflected in XRP’s focus on cross-border transactions and creating an easy global payments system.

Wietse Wind, Creator of the XRP Tip Bot, gave another major push to XRP’s cause after he revealed that he was trying to obtain a banking license for XRP Tip Bot, which will make it mainstream in the world of finance. During a recent XRP meetup, Wind said,

“There’s been a lot of FUD around XRP and Ripple and such and we want to show that we are working towards something really awesome and useful. We are planning to get real licenses for tipbot so that we go mainstream. Granted we are still in the early stage but we are doing our very best to make it happen. Our next step is to get a European banking license and maybe call it the ‘legacy network’. Let’s see where we can get in a few years.”

The news spread like wildfire in the XRP community and a majority of the ‘XRP army’ could not contain its excitement. Tiffany Hayden, a popular XRP proponent, tweeted,

“The BIG news from yesterday’s $XRP meetup is that @WietseWind is in the process of obtaining a banking license for @[email protected] is going to bridge the legacy network! Don’t fight the old, build the new!”

Ripple’s technologies have been slowly but surely getting nods from institutions, as shown by Bitstamp, an xRapid payments-facilitated exchange getting a BitLicense from the New York Department of Financial Services [DFS].

Linda A. Lacewell, Acting Financial Services Superintendent of New York State Department of Financial Services [DFS] had said,

“We are pleased to welcome Bitstamp to New York’s growing virtual currency marketplace. A regulated industry protects customers while supporting innovation and ensuring our financial services sector is a vibrant part of New York’s economy.”

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