Ripple has been securing xRapid partners almost every single week, as well as its native token, XRP keeps hitting major cryptocurrency exchanges. The crypto got listed on Turkey’s fastest growing exchange Koineks just yesterday, and now, an upcoming exchange, FoLex, has decided to list XRP right from its beginning.
You’ve probably never heard about Folex. There’s a good reason for that; it’s not online yet. As we write this, you can see a countdown on their site (folex.io) that is reporting that it will come online in ten days, eight hours and peanuts. So why are we giving them attention?
Because we think it could be a good thing, as they do. Actually, in that same website, you’ll see their current lemma: “A great thing is coming.” If you ask us, that’s a better pitch than “Winter is coming” and, still, everybody is waiting for Game of Throne’s next season.
So what is Folex? Or, instead, what is it going to be?
It will be an exchange founded by thirteen (lucky number if there ever was one) cryptocurrency enthusiasts who have extensive experience in the field. They understand cryptocurrency very well in a way that can only benefit their prospective customer’s needs because they know what they need.
Folex’s staff believes that a trader has the right (and need) to have many assets available for trading, which is why they are committed to providing as many trading pairs as possible, according to the customer’s use and feedback. And Ripple’s XRP has been picked by them precisely on that matric.
This is an exchange designed to work along with blockchain projects directly (owners and communities) so that the exchange’s interface will be simple and easy to use for both experienced crypto enthusiasts and newcomers. They put a lot of emphasis on data protection and security for the customer’s personal data.
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— FoLEx Official (@FolexOfficial) November 4, 2018
The news coming from FoLEx is that they will be listing Ripple’s XRP as a currency to be traded from the very beginning. This has not been the rule. In fact, Ripple has struggled hard to get XRP listed as a currency in exchanges. But they’ve succeeded, and they’re making a lot of progress.
There are reasons for that. Ripple never meant for XRP to be a retail currency that could be traded in exchanges among end users and enthusiasts. It wanted its native token to be a mediating currency used by banks and financial institutions so that international payments could be settled quickly, safely and cheaply through Ripple’s network and platforms.
It’s not yet clear what pairs will be offered against the XRP token or if it will be a base currency at all. Other currencies that will be included at the new exchange include Stratis, Cardano, Monero, Tron, NEM, Steem, Stelar Lumens’ XLM and many others.
Folex is based in Georgia perhaps because the country is more friendly to cryptocurrency enterprises than most others in Europe. It allows for good service and customer anonymity at the same time.
They will use Bitcoin as a base currency at the start, which is more or less the rule for most cryptocurrency exchanges in the world. But who knows? Some other, more established exchanges, have adopted XRP as a base coin recently so Folex could make that choice sooner rather than later.
More coins are being announced as the launch time approaches, according to a countdown a the company’s website. It’s hard to predict which could be the next one as the selection of tokens currently announced is already quite extensive.
We wish Folex all the luck in the world. Good quality exchanges are always welcome into the world’s crypto community.
Consequently, on the back of recent Ripple xRapid partnerships and current as well as upcoming XRP listings news, the cryptocurrency has managed to surge 18% within the last 24 hours. Even though Ethereum is in green today too, but XRP has surprised its competitor for 2nd spot as the cryptocurrency has grabbed the position again as I write this. The blockchain firm seems to be doing everything right at the moment.
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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.
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