Ripple Expansion: XRP Exclusive Exchange Launches In Africa
XRP is being boosted by Ripple for a really long time now, and the crypto is gaining more and more interest. The adoption of the digital asset went great this year, so far, and the good news keeps pouring.
XRP exclusive exchange is launched in Africa
A Cape Town-based fintech firm Xago introduces a new Ripple gateway and also a custom-designed exchange that allows users to send and receive XRP.
Xago’s exchange has the ability to connect and use RippleNet, which is a decentralized network of financial institutions that are using Ripple’s proprietary payments tech in order to perform almost instant and cheap cross-border transactions.
The official announcement reveals the following:
“Xago has built the exchange in order to create liquidity of XRP in South Africa, acting as the market-making platform for cryptocurrency enthusiasts and businesses that wish to trade with and utilize XRP and the Ripple Ledger.”
The notes continue and explain that “Due to the fast settlement between wallets, RippleNet is a viable option for transferring value between exchanges, reducing exposure to volatility.”
Xago was founded back in 2016, and it was incubated out of the Cape Innovation & Technology Initiative in Woodstock.
According to the founders of Xago, RippleNet and more blockchain-based platforms will be playing a key role in transforming the digital payments industry.
Kuhnel said: “By solving the double-spending problem, the Bitcoin blockchain opened up digital peer-to-peer payments without the need for a trusted third party through the process of mining.”
Binance Singapore lists XRP
In other news, Binance Singapore listed Ripple’s digital asset, and you can see the pair in the tweet below.
✅Retweet! We will randomly pick 5 winners to have a limited edition of @Binance Singapore T-shirt😍
— BinanceSingapore (@BinanceSGD) October 9, 2019
In other news, Ripple boosted XRP with a new partnership.
Ripple revealed a new partnership with London-based fintech solutions provider Finastra.
This move will allow Ripple, which offers blockchain solutions for cross-border payments, also to provide these to Finastra’s banking customers.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.