XRP Hits $0.23 – FXCoin Exchange Launches XRP Remittance Pilot In Japan

The crypto market is in the middle of a massive bull run and all the coins are racing at the moment.

As Bitcoin is nearing the $9,500 level, XRP is also trading in the green and the coin is now priced at $0.234520.

The crypto market managed to recover massively following the drop in price since back in March, and things are getting more and more bullish ahead of the BTC halving, which is scheduled for May 12th.

FXCoin launches XRP remittance pilot in Japan

FXCoin is a crypto exchange based in Tokyo, and it’s gearing up to launch a remittance pilot that’s based on XRP.

Japan’s Financial Services Agency gave the company permission to offer trading services in December of last year, and FXcoin says it’s accepting new accounts as of April 23rd.

Along with Bitcoin, the exchange said that it plans to add more coins to the trading platform in the future months.

It also seems that it’s looking to create new products that are designed to bring more utility to the crypto industry.

One of the test pilots is a domestic and international remittance product that is using XRP to power transactions.

FXCoin has more initiatives based on crypto

FXCoin senior strategist Yasuo Matsuda spoke to Cointhegrpah Japan and said that it’s the very first in a set of crypto-based initiative in the world of finance.

“We will proceed with the demonstration experiment of domestic remittance and overseas remittance through XRP, and finally, global cash management, corporate finance, and trade. We would like to expand the range of applications to fields such as finance.”

The company has not revealed whether it plans to utilize Ripple’s XRP-based cross-border product ODL.

Regarding XRP, it seems that the coin is slowly but surely getting back to the high levels that it managed to hit this year.

Ripple also revealed some changes that will be taking place later this year for the Swell conference.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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