Ripple announced that its native cryptocurrency XRP will be listed on six more digital asset exchanges as a result of the expansion of its partnership with digital asset security platform BitGo.
The exchanges where XRP will be listed include Bitso, Coinone, bitbank, SCI’s BuyBitcoin, AlphaPoint and Quoine’s QRYPTOS. Later this year, the exchange SBI Virtual Currencies also plans to list the altcoin.
Ripple announced its partnership with BitGo earlier this year to make it easier for payment providers and banks to use XRP for global payments.
Ripple says that with the listings, it will be able to better serve the increasing demand for global payments in both major currency corridors and emerging markets.
Asheesh Birla, VP of Product at Ripple, said on the occasion, “Listing XRP on several new exchanges reduces the friction for our customers to send payments into these rapidly growing markets.”
He added, “Within hours our customers can get-up-and-running with payments into a new country.”
These additional exchange listings will increase XRP liquidity, and as a result financial institutions will find it easier to make cross-border payments, in emerging markets in particular. This is a big deal, as paying in many emerging market currencies can be expensive. Payment providers and banks can instead use XRP to settle these payments on demand. Moreover, in a low volatility and highly liquid state, XRP could lower liquidity expenses for banks by about 98 percent.
“Ripple’s momentum in making cross-border payments a reality with XRP is palpable,” said BitGo co-founder & CEO Mike Belshe. “We’re excited to be working with Ripple, and we’re proud to have been selected by them to help exchanges and their users secure XRP. We expect 2017 will be a very strong year for XRP.”
Image credit – Via Ripple’s Media Kit