Ripple is arguably an essential bridge between the world of virtual currencies and traditional banking, credibly designed to transform how financial institutions transfer money across borders, making settlements faster and cheaper. However, Ripple is working round the clock to get listed on Gemini and Coinbase, the two major US-based cryptocurrency exchanges.
According to sources that asked anonymity, last year, Ripple offered a $1 million cash payment to Gemini and a loan of over $100 million in XRP to Coinbase, the cryptocurrencies market leader in virtual currency exchange platform, in exchange for a listing. A somewhat standard practice done by companies who want their virtual currencies listed with top exchanges. Both exchanges declined to pursue the offers, the sources revealed.
Coinbase and Gemini usually pick and decide the virtual currencies that trade on their platforms. At the moment, Coinbase offers Bitcoin, Litecoin, Ether, and Bitcoin Cash on their platform while Gemini trades only two cryptocurrencies namely Bitcoin and Ether. But, the Winklevoss twins, co-founders of Gemini, stated they were looking to grow with plans to onboard Litecoin and Bitcoin Cash in the near-future.
Gemini and Coinbase are likely to be declining to list Ripple due to the warnings by the US government on unlicensed exchanges in listing digital coins that were perceived to be securities, whereby XRP might be categorized as one because a single company controls it.
However, according to recent news releases, Coinbase will be relocating to Japan to inaugurate development activities in the Asian nation. Japan is generally seen as the homeland of blockchain technology and virtual currencies, mostly because of the high number of cryptocurrency enthusiasts and investors residing in Japan.
Even though this decision doesn’t come as a big surprise, a move like this one could have enormous after effects for many cryptocurrencies and their communities. More so, Ripple (XRP) might get listed to Coinbase, thanks to this move.
Unlike their American counterparts, the Japanese government allows cryptocurrency exchange platforms to operate in their territory with reasonable requirements needed to be satisfied. For a cryptocurrency exchange to operate in, the Asian country, they must be licensed and comply with some crypto regulations devised to protect the security and integrity of both the investor and virtual currency. Therefore, the Japanese regulations are not created to delay the operations of virtual currency exchange platforms.
Be that as it may, Coinbase will have to acquire a valid license and show commitment to the Japanese crypto regulations before relocating to Japanese soil.
Ripple (XRP) is a very respected coin in Japan, as it is the third-largest virtual currency in the market. It is also the most used digital coin used in the country making it the best candidate Coinbase would want to add in their listing as soon as they relocate their operations to the Japanese territory.
From Ripple’s point of view, the addition and adoption of XRP on Coinbase will have a significant positive effect on the prices of XRP prompting a bull run. But before then, Ripple will have to remain in the cold until Coinbase shifts their operations to Japan.
And of course, Ripple seems to be working as hard as it can to get these top US listings. The crypto has been in headlines positively lately, from the Snoop Dog performance event to most recent partnership with Japan’s SBI bank; all such actions will surely clear its way to get those listings faster.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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