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Report: Ripple might pay to get featured on major US exchanges

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Ripple

It is not so easy for a digital coin to get listed on main exchange platforms, and even these days, it is also difficult to get a hint on what it requires out of a crypto-coin to be featured on these platforms.

But now, we would get a preview of what Ripple, which is the number three cryptocurrency behind Bitcoin and Ethereum, would undergo for getting its XRP featured on crucial tradeoff platforms in the US.

Based on an article that appeared in Bloomberg, Ripple has stated that it is keen to pay lots of money to get XRP listed on prominent U.S exchangers where liquidity is present. It has however said that it doesn’t have any problems buying its way to get featured anytime soon.

It is important to know that the cross-border payments company gave millions to Gemini and Coinbase to get featured. It is a customary process to pay to get listed in the equity markets, and not only the loose crypto-market.

Furthermore, it is also needful to know that about $1 million was offered to Gemini by Ripple to get a Q3 listing last year and the company also offered about $100 million XRP’s to Coinbase for financiers for trading on the exchange platform.

In addition, Ripple offered a deal to take a reimbursement in an official sanction or in XRP, for which investors and exchange platforms in the United States can be able to benefit from, according to the article on Bloomberg.

Ripple stated through its representative that the digital coin wasn’t involved in any financial deal for main exchange platforms to get a chance to get profit just to be listed. Ripple, through its representative also made this known to Bloomberg:

We want XRP to be the most liquid digital asset possible to enable faster, and cheaper global payments.”

Most individuals involved in the trading markets within the U.S fear that when the U.S government enacts the regulatory policies, it could affect some crypt-coins including XRP.

For now, if the speculations that these main trading platforms go with supporting XRP are more significant than expected, there will be more benefits to the price of the cryptocurrency, such as the one that occurred late last year.

The Neutral Ground

Ever since the inception of XRP, lots of market participants have taken an interest in the cryptocurrency, and as a matter of fact, market traders are asking for its listing on different social network platforms across the globe.

But despite the demands, Ripple has not been able to get an opportunity to be featured on major U.S exchange platforms even though it managed to close the gaps between crypto-industries and conventional banks.

Based on a report by the Autonomous Research, to get featured on a dominant trading platform, it will cost about 1 million USD to 3 million USD. With a $3 million price tag, digital coin industry can get access to the liquidity at a very fast pace. However, a lawyer mentioned to Bloomberg that the financial deal of Ripple with Gemini and Coinbase is not a crime under the law.

Nevertheless, the neutral ground in all of this is if XRP is categorized as a secured digital coin or not. This is due to the fact that if the regulatory bodies label XRP as an “unregulated” security coin, it could cause an adverse outcome for Ripple as well as the main trading platforms that promote it.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of cryptocurrency360

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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