The Gibraltar Blockchain Exchange may not be the cryptocurrency trading platform that’s usually in the limelight but it’s solid as very few others are. Its token sale platform is insured, regulated and it’s institutional-grade. And now, its Digital Asset Exchange (GBX-DAX), which was created thinking of professional crypto-traders instead of the usual casual retail players, has added Ripple’s native token, XRP to its platform.
“Ripple is a major player within the blockchain industry. In ways similar to our work at the GSX Group, it aims to reshape the old methods of finance and banking, transforming payments through blockchain technology,” commented GSX Managing Director and Founder Nick Cowan. “XRP is a globally traded token and by joining the GBX-DAX it further extends its liquidity and reaches.”
Ripple, on the other hand, is a blockchain project with a distinct purpose: to eliminate as much friction as possible from international payments so that they can be settled cheaply, safely, and almost in real-time. The RippleNet blockchain is highly scalable and it allows for interoperability among networks.
The platform includes a native cryptocurrency called XRP (which is ranked second in market capitalization) which is used right within the Ripple environment and provides liquidity for customers. And those customers include American Express, Banco Santander, Standard Chartered, and Western Union, just to name a few.
Ripple works very hard to acquire new strategic partnerships, and it’s become very adept at the task. It recently went over 200 clients in the RippleNet. Besides the aforementioned institutions, new partners include Euro Exim Bank, FTCS, Transpaygo, SendFriend, JNFX, BFC Bahrain, Ahli Bank of Kuwait. Several of the new partners will use not only Ripple’s software and platform but also the XRP coin to provide liquidity on demand when settling payments among borders.
Brad Garlinghouse, Ripple’s CEO, explained,
“We also saw a 350 percent increase last year in customers sending live payments, and we’re beginning to see more customers flip the switch and leverage XRP for on-demand liquidity”
This is a match made in heaven as both companies have a heavy focus on institutional-grade services and users. GBX-DAX derives its institutional expertise from its parent company, the Gibraltar Stock Exchange (GSX), which is an EU-regulated stock exchange.
“In November last year, we were granted a full license to operate by the Gibraltar Financial Services Commission (GFSC) and, following this, we introduced insurance coverage for assets listed on the GBX-DAX,” Mr. Cohen added. “As we move into 2019, we plan to build on this momentum with new digital assets listed on the GBX-DAX, with Ripple as the first of these new tokens.”
According to GBX-DAX the company’s platform is intuitive and easy to use. Every aspect of the site is designed to create the most professional and safe trading experience from the verification processes to the listing of the broad spectrum they offer in cryptocurrencies.
Ripple keeps securing new partners and getting listed in new exchanges. That’s why it’s managed to gain ground as most of the market keeps shrinking. It even displaced Ethereum at that second spot a few weeks ago.
[Image courtesy of pxhere.com]
Disclaimer: All information provided through this article should not be regarded as investment advice, nor should be taken for granted for crypto trading purposes. Before making any investment or trading plans, make sure to inquire about the information diligently by carrying out your very own research. Thank you.