The XRP army of fans had a lot of reasons to be hyped lately, with various achievements being marked.
For instance, an important name highlighted the importance of cross-border payments, and everyone in the crypto space knows by now that Ripple excels in this area.
The future could be more than bright for XRP, according to the latest reports.
Benoit Coeure, Chief of the Bank of International Settlements, spoke at the Davos World Economic Forum commented on the use cases for stablecoins and cryptos.
BitMEX will launch the XRP/USD quanto swap
BitMEX is said to launch the XRP-US dollar (XRP/USD) quanto swap.
The quanto swap derivatives allow traders to speculate on the price of XRP/USD without having to deposit US dollars, according to info coming from the online publication the Daily Hodl.
While the price of XRP will be tracked using USD, a third foreign currency will be used in order to settle the contract at a particular interest rate.
In an official blog post, the exchange announced that the derivative will be launched on February 5, 2020.
Great year start for XRP derivatives
2020 started great for XRP derivatives. You may recall that Binance Futures launched perpetual futures contracts for XRP.
The online publicaiton the Daily Hodl writes that these are tradable against the stablecoin Tether (USDT) and give speculators up to 75x leverage.
In Q4. XRP Markets Report, Ripple said that crypto derivatives are an essential move in the maturity of the markets.
The Q4 XRP Markets Report highlights continued pause in programmatic #XRP sales, low volatility and a deeper dive into escrow movements. https://t.co/kkFmJZD1eV
— Ripple (@Ripple) January 22, 2020
“XRP derivatives may further develop in 2020, amid a continuous general crypto derivative boom that is set to outpace spot volume by multiples… ” according to official notes.
More than that, “XRP derivatives are a potentially important tool in order to manage exposures and transactions through Ripple’s cross-border payment solutions, where XRP is leveraged.”
In terms of pricing, on CoinMarketCap, XRP is trading in the green just like other coins in the market and the crypto is priced at $0.228386.
