After exploring XRP as a base currency, Canadian CoinField exchange has finally launched its platform with 20 XRP-based crypto pairs in 61 countries worldwide. It also shared details about its referral program that rewards 10 XRP.
XRP as Base Currency Gaining Traction
In late September, CoinField Exchange has been exploring XRP as its base currency. And now finally about one month later, the exchange has officially launched its platform with 20 XRP-based crypto pairs.
The Canadian-exchange took to Twitter to announce the launch:
The platform is now live in 61 countries! Enjoy trading 20 #XRP based pairs as low as 0.05% commission fee. Sign up at https://t.co/bCReJubCUC@bgarlinghouse @Ripple @Cointelegraph @coindesk @Ripple_XRP1 @xrp_news @XRPtheone @XRPstreetTEAM @KingRippleXRP @XrpCenter @tsuki_ryokou pic.twitter.com/T5MBmdUHWu
— CoinField Exchange (@coinfieldEX) November 2, 2018
The official announcement shares,
“CoinField, Canada’s most advanced cryptocurrency platform, has pegged XRP as its main base currency effective immediately, and offering 20 pairs against XRP.”
For the past some time XRP as a base currency has been garnering a lot of attention with XRP enthusiasts and community signing even a petition for the same. Quick transaction speed, no third-party reliability, and very small transaction fee cited as the “highly-desirable qualities” by CoinField, XRP has been seen as the “ideal choice.”
Babak Bob Ras, CEO of CoinField shared his views on the same with:
“In a very short amount of time, XRP has proven itself to be one of the most reliable and most cost-efficient blockchain networks in the industry. By adding XRP as our base currency in all trading pairs, our users can move funds in and out of different exchanges or different wallets in a matter of seconds. We are directly benefiting our users with a stable, proven base.”
A total of 28 trading pairs have been included across six fiat currencies viz. US dollar (USD), Canadian dollar (CAD), Japanese Yen (JPY), Euro (EUR), Great Britain Pound Sterling (GBP), and UAE dirham (AED). The plan is to further add more coins before the end of 2018.
This new platform caters outside Canada’s borders as well as it expands to 61 countries worldwide. However, “users in these countries need only to complete a quick KYC/AML process to start trading.” It has also been upgraded with a matching engine that allows about 75,000 trades per second.
The exchange further shared information about its referral program that rewards 10 XRP:
“CoinField is also pleased to announce its new referral program to reward loyal users. When those users bring in new traders to the platform, they will be rewarded with 10 XRP deposited into their accounts. They will also receive a 25% commission going forward off every trading commission the newcomer transacts.”
Not long ago, we reported of another exchange, XRP United that also launched its platform with XRP as a base currency. With the way things are panning out for XRP, it could be expected in the near or far future other exchanges are expected to consider the potential of XRP as a base currency.
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I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.