Zebpay announced today that they would launch crypto-to crypto trading for the XRP token, with the first pair being Ripple [XRP]-Tron [TRX]. They also said that more crypto pairs would be coming soon.
This comes hot on the heels of their announcement to include support for the main net launch of Tron and EOS earlier today. They announced in a tweet:
“EOS and Tron (TRX) are ERC20 tokens that run on Ethereum, but will soon migrate to their own blockchains. Zebpay is happy to announce full support for the both of these migrations.”
The tweet was picked up by Justin Sun, who personally thanked them for adding support.
Zebpay is one of India’s largest crypto trading platforms, with enhanced security using multisig wallets and support for multiple coins. They announced in April that they would be introducing crypto-to-crypto trading pairs, with official adoption beginning on 2ud of May. The pairs they introduced were:
- Bitcoin Cash [BCH] – Bitcoin [BTC]
- Litecoin [LTC] – Bitcoin [BTC]
- Ripple [XRP] – Bitcoin [BTC]
- EOS [EOS] – Bitcoin [BTC]
- OmiseGO [OMG] – Bitcoin [BTC]
- Tron [TRX] – Bitcoin [BTC]
Crypto-to-crypto trading allows users to exchange one cryptocurrency for another. The significance of this pair, in particular, is that it will allow users to exchange two relatively low-cost cryptos with each other, reducing the need for smaller transactions in crypto-to-fiat fashion. XRP is currently trading at $0.80, and Tron at around $0.08. These coins can be exchanged with each other at a 1:10 ratio, allowing Tron holders to liquidate the value directly into XRP.
The XRP token is used as a bridge currency for Ripple’s payment solutions to ensure seamless, fast transactions with negligible transaction charges. Tron is used as a decentralized app platform on the blockchain, where the TRX token is used.
User Norman Smith responded to the announcement by saying:
“Guys you are awesome. #xrp is much better to use than #btc :)”
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