Digital Currency Revolution Series: Spotlight on Ripple’s recent trends

Coinbase unveiled a payment service for their users of XRP and the USDC stablecoin (which was originally launched by the Circle affiliate CENTRE). 

The clients of Coinbase would be accessed to the no-fee service when transferring to other users of the exchange. 

“It’s primarily designed as an educational resource for customers to learn about the benefits of using crypto for cross-border payments,” a company representative said. The XRP transfer service has been available since Coinbase first added XRP to its exchange in late February.

Please be noted that the 'Ripple' is a private company meant for the generation, development, and deployment of assets and services such as XRP and RippleNet, which is incorporated in Delaware as Ripple Labs Inc. The crypto unit is also functioning in California as a "Foreign Corporation”. Retail investors cannot invest in Ripple Labs Inc.

In reference to RippleNet, the company has explained"As a global payments network, RippleNet creates a modern payments experience operating on standardized rules and processes for real-time settlement, more affordable costs, and end-to-end transaction visibility. It allows banks to better compete with FinTechs that are siphoning off customers disappointed by traditional transaction banking services."

An exchange-traded product (ETP) pegged to the underlying price of the XRP cryptocurrency has gone live on Switzerland’s renowned stock exchange ‘SIX’ with the collaboration of Amun AG, in the recent past. Amun AG, who happens to be the provider of the product, announced the news, confirming that the XRP ETP started trading on the exchange under the ticker symbol AXRP. Amun AG has appended their statements divulging the future plans of including more crypto ETPs and indices later this year. Courtesy: BNC & Coindesk

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 14 levels (which is mildly bullish), while hourly USD spot index was at -1 (neutral) while articulating at (12:30 GMT).

For more details on the index, please refer below weblink:

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.