On 25thFebruary, Coinbase began to accept inbound transfers of XRP to Coinbase Pro. The pro-level exchange platform will soon be enabling trading of this latest cryptocurrency, ensuring first that there is sufficient liquidity before full trading commences. Once sufficient liquidity in XRP deposits has been established, the Coinbase Pro exchange will open trading pairs for XRP/USD, XRP/EUR and XRP/BTC in incremental phases.
According to the Coinbase blog, support for XRP will initially be available for Coinbase Pro users in US (excluding New York), UK, supported EU member states, Canada, Singapore and Australia, with the company considering adding more jurisdictions at a later date.
XRP is the cryptocurrency used by the XRP Ledger and supports international currency exchanges. The XRP Ledger is an open source product created by Ripple and powered by a series of peer-to-peer servers. It was originally created to provide a solution to friction caused by delays and difficulties in making international payments.
The XRP cryptocurrency can be used by account-holders to send or receive XRP to and from each other and XRP can also be used to send fiat currency, resulting in faster payment settlements and lower foreign exchange costs. XRP offers banks and payment providers an on-demand real-time option to access liquidity for cross-border payments. The cryptocurrency regularly deals with some 1,500 transactions per second, 24/7 and claims to be able to handle the same level of activity as Visa.
Ripple is a US based technology company, founded in 2012 and based in San Francisco, which has developed the Ripple payment protocol and exchange network to connect banks, payment providers, digital asset exchanges and corporates through its RippleNet.
Coinbase is a digital currency company offering digital currency wallets on its trading platform where consumers and investors can buy, sell and hold digital currencies. Its Coinbase Pro (formally known as GDAX) is a central-limit book exchange for digital assets. Market observers are expecting Coinbase to eventually make the move to adding XRP to its Coinbase.com platform and the corresponding mobile apps.
