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Ripple's currency XRP is now traded on Bitstamp

Wednesday 11 January 2017 | 10:41 AM CET

Bitstamp, an European-based Bitcoin exchanges, has added another virtual currency to the Bitcoins already traded on its platform, XRP from Ripple.

Ripple, a blockchain-based banking payments technology provider, said its digital currency XRP will start trading on Bitstamp on Jan. 17. Furthermore, the XRP/euro and XRP/dollar currency pairs will be available to all customers and regions currently supported by Bitstamp. Payment processors can utilize XRP to facilitate cross-border payments to and from Europe.

XRP was created specifically for institutional settlement in seconds. As evidenced by the recent trial with XRP for interbank cross-border payments, the use of Ripple and XRP can enable both cost-cutting and revenue opportunities for participating institutions, Ripple said for Reuters.

Currently, XRP is valued at less than one US cent, but it is the third largest digital currency in terms of market capitalization equivalent to USD 245.2 million.

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