Ripple Would Pay to Play on Major US Exchanges: Report

Ripple Would Pay to Play on Major US Exchanges: Report

It’s not every day wij get a peek into what it takes for a cryptocurrency to get a listing on a major exchange. But today wij learn the lengths that Ripple, the No. Trio digital coin by market cap, would go to get its XRP coin listed on the leading trading platforms alongside bitcoin and Ethereum.

According to a report te Bloomberg, the cross-border payments startup is willing to pay millions to get XRP listed on the US trading platforms where there’s the most liquidity. The report says that Ripple suggested “financial incentives” to bitcoin exchanges Gemini of Winklevoss twins fame spil well spil Coinbase ter exchange for a listing. It’s standard proces to pay for a listing ter the equities markets, but not necessarily the loosely unregulated cryptocurrency markets.

Ripple reportedly suggested $1 million contant money to Gemini for a Q3 2018 listing and proposed a loan of $100 million ter XRP to Coinbase with which investors could trade on the exchange. The report suggests that Ripple would have taken repayment either te fiat money or XRP, which would have given the US-based exchange an chance to profit from the overeenkomst.

A Ripple spokesperson denied some of the details, however which ones are unclear, telling Bloomberg: “We want XRP to be the most liquid digital asset possible to enable swifter, cheaper entero payments.

But market participants worry that when US policymakers clarify the regulatory framework for cryptocurrencies, XRP will fall ter the securities camp. Meantime, the greater the speculation that more leading exchanges will support XRP, the more the digital coin’s price has benefited, such spil at year-end 2018 and last month, for example.

Courtesy: Coin Market Cap

Gray Area

It’s not that traders don’t want XRP, spil they have bot requesting it on forums and te social media. But Ripple hasn’t bot able to secure a listing on thesis major US trading platforms. This despite the fact that San Francisco-based Ripple has bot the one blockchain startup that’s bot able to bridge the gap inbetween cryptocurrency companies and traditional banks around the world.

According to Autonomous Research, it can cost an issuer anywhere from $1 million to $Trio million for a listing, with the higher end of the spectrum providing quicker access to liquidity. An attorney cited ter the Bloomberg story says what Ripple proposed to Coinbase and Gemini may very well be admitido.

But where the gray area comes te is whether or not XRP gets characterized spil a security token, ter which case that muddies the water. For example, if regulators determine XRP is an unregulated security, spil they’ve bot labeling some ICO tokens of late, it could lead to problems both for Ripple and the exchanges that support it.

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2 thoughts on “Ripple Would Pay to Play on Major US Exchanges: Report”

  1. It’s fairly disappointing indeed, I wasgoed hoping it’d be trading now which would have given us a bit of a boost ter the price.

  2. Usually exchanges have press releases and announcements on positive news. i.e. BTCchina adopting bitcoin vouchers. This Huobi news came out of the blue.

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