The cryptocurrency exchange CEX.IO has added support to the XRP cryptocurrency, the third-largest in the market after Bitcoin (BTC) and Ethereum (ETH). In this way, U.S. customers will be able to exchange XRP in a fast and easy way for fiat- and crypto-currencies. The information was released by the company in a blog post.
XRP Added On CEX.IO
With this new cryptocurrency supported by the platform, U.S. residents will have the chance to exchange XRP for USD, EUR, GBP, BTC and USDT. This is certainly important because the U.S. is a massively large market that has an important influence on the industry.
The company was able to get 20 money transmitter licenses and they are operating with residents in 37 different states. However, the company wants to obtain licenses in all the U.S. to offer solutions to clients in the country.
On the matter, the CEX.IO Team commented:
“We’re glad to be opening new trading opportunities for our US customers. CEX.IO has obtained 20 money transmitter licenses so far and can currently serve residents in 37 states. Our goal is to obtain licenses in all states and provide our US clients with the entire range of CEX.IO services.”
On December 17, 2019, CEX.IO announced support for the USD Coin (USDC) cryptocurrency. This would allow traders to find a stablecoin that would help them hedge against volatility in the market. Nowadays, the most popular stablecoin is Tether (USDT), however, this stablecoin has been involved in different controversies that have damaged the whole crypto space.
Furthermore, Cardano (ADA) was one of the digital assets added to the platform. While XRP is a cryptocurrency used by financial institutions and other firms to send and receive cross border payments, ADA is an innovative cryptocurrency that powers the Cardano network.
According to data provided by CoinMarketCap, XRP is currently the third-largest cryptocurrency with a valuation of $8.22 billion. Each XRP can now be purchased for $0.189841. In the last 24 hours, XRP experienced a price expansion of 2.51%, however, it remains traded at its lowest point since 2017.
In the future, new cryptocurrencies and tokens could be added to the CEX.IO platform. Exchanges are trying to attract a larger number of users, something that can be done by adding support to new and valuable cryptocurrencies.