Ripple will commence trading on Independent Reserve, the Australian digital currency exchange, from 7th July expanding its presence in Australia and New Zealand. All XRP trades will be discounted to 0.1% for the first two weeks.
Ripple [XRP] now available in Australia and New Zealand
Developed by Ripple Labs, XRP, the protocol and currency were designed with the banking and institutional market in mind, enabling fast, low-cost transfers between fiat currencies as well as other assets including gold and airline miles. Ripple Labs has collaborations with a wide range of institutions around the world including NAB, Westpac, and American Express.
XRP is the third largest digital currency by market cap after Bitcoin and Ether. Its current market cap is around USD $19 billion. One XRP is currently trading at around USD $0.48. Ripple can be bought on most major exchanges including Bithumb, Coinone, Korbit, Bitso, Bittrex, Bitfinex, Poloniex, BitStamp, Hitbtc, Kraken. It has been slowly getting traction from others exchanges as well.
Independent reserve a great platform for Ripple
XRP will be available to trade on Independent Reserve from 7 July. The exchanges can buy XRP with AUD, NZD, and USD, and trade between XRP and other digital assets including Bitcoin (XBT), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
Independent Reserve CEO Adrian Przelozny said the exchange will roll out product direct to retail investors through its exchange, as well as over the counter (OTC) to corporate and institutional customers. He was quoted saying
“The addition of XRP is in line with our strategy of adding high-quality digital currencies in a thoughtful and measured way,”
There is a wide universe of digital currencies out there now, but to be listed on Independent Reserve they need to meet a range of criteria including quality, stability and volume metrics. He also mentioned that there is a good demand for Ripple in Australia and the exchanges clientele has been requesting XRP.
Independent Reserve is a registered Australian company, committed to institutionalizing the Digital Currency industry. It is an industry member of the Australian Digital Commerce Association (ADCA). The technology behind Independent Reserve is our proprietary Airmarshal™ platform, which provides a secure, robust, scalable system for online trading. The exchange also provides the secure Airbridge™ API for third parties integrating with Independent Reserve.
Independent Reserve facilitates trading Bitcoin and Ether in three currencies: USD, AUD and NZD. Independent Reserve features a multi-currency order book which automatically converts all open orders into currency of choice. Independent Reserve was founded in 2013 in Sydney, Australia.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.