Business, Market Analysis

Independent Reserve Exchange – Support For ‘XRP’ Added.

As per Latest Reports, The third largest cryptocurrency in the world by market cap ‘Ripple’ XRP is listed on Australian crypto Exchange namely ‘Independent Reserve.’ After four other crypto’s being listed on the platform – Bitcoin’BTC’, Bitcoin Cash ‘BCH’, Ethereum ‘ETH’, Litecoin ‘LTC’, and now Ripple ‘XRP’, which now makes a count of listed digital currencies on the platform to five.

Exchange Listing ‘XRP’

Independent Reserve is Australia’s first crypto regulated exchange listed support and trading for the Ripple’XRP’ token from 7 July this year through XRP pair trading For Users to buy with NZD, AUD and USD. Soon crypto pairs of XRP with Bitcoin ‘BTC’, Ethereum ‘ETH’, Bitcoin Cash ‘BCH’ and LiteCoin ‘LTC’ will be listed.

As an introductory offer for Ripple listed on exchange, the plaform will introduce a minimum fee of 0.1% to promote XRP trading for the next following time of two weeks. The Exchange released a press released stating:

“We are excited to announce the forthcoming launch of our fifth digital currency i.e Ripple ‘XRP’ which is a native currency of the Ripple Transaction Protocol. It is primarily used as a bridge currency for when two entities wish to trade different currencies where no pair exists.”

Independent Reserve – A Sydney-based exchange will offer Ripple trading to its user’s via its exchange and over-the-counter ‘OTC’ services for institutional clients.

CEO  of the Exchange ‘Adrian Przelozny’ stated:

“The addition of Ripple is in Pipeline of our future strategy of adding high-quality digital currencies in a thoughtful and measured way. There is a wide universe of digital currencies out there now, but to be listed on Independent Reserve they need to meet a range of criteria including quality, stability and volume metrics. Our User’s have been requesting XRP, and we felt this timing was right to offer it to them.”

Mere Market Effect’s

Independent Reserve Exchange is Australian Transaction Reports and Analysis Centre ‘AUSTRAC ‘approved cryptocurrency exchange in Autralia and the first fully authorized regulated trading desk in the country. As per Australia’s legislative, the cryptocurrency landscape in the country will be regulary monitored. The government body is Australia’s financial intelligence arm responsible for identifying illegal practices such as money laundering and terrorism in the financial ecosystem.Since April 2018, digital currencies are required to register and report to AUSTRAC.

All exchanges are also required to comply with the anti-money laundering (AML) laws and counter-terrorism financing regulations. Independent Reserve is not the only AUSTRAC-approved exchange to offer XRP trading.

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