Bitstamp, an EU regulated digital asset exchange with offices in London, Luxembourg and New York, today announced it will launch trading of XRP, the digital asset native to the Ripple Consensus Ledger.
Specifically, XRP/EUR and XRP/USD trading pairs will be available for trading on Bitstamp’s exchange beginning January 17, 2017.
They will be available to all customers and regions currently supported by Bitstamp, and payment processors can utilize this XRP liquidity to facilitate cross-border payments to and from Europe.
Ripple also announced that Bitstamp, the first digital asset exchange to be fully licensed to work in all 28 EU member states, is the first partner exchange for Ripple’s XRP incentive program.
Designed to increase liquidity and tighten spreads, the incentive program will offer rebates and compensation to qualifying liquidity providers in XRP pairs at partner exchanges.
Newly appointed Miguel Vias, Head of XRP Markets at Ripple stated:
The relationship with Bitstamp and launch of XRP volume incentives underscores our commitment to making XRP the institutional standard bearer for value transfer globally. XRP is uniquely capable of introducing more liquidity to exchanges to support global payment volume, especially in exotic corridors. Ripple’s adoption with banks puts XRP in pole position to become a global settlement asset, which translates to more liquidity for Bitstamp, and more value for institutional and individual investors.
Nejc Kodrič, CEO at Bitstamp commented:
After evaluating a number of digital currencies for inclusion on our exchange, it soon became clear that customer demand for XRP was particularly strong. Fortunately, Ripple and XRP also happen to be a good fit for the requirements of our EU license and so we are delighted to be able to respond to our customers’ needs in this way.
Nejc also sent the following notice to BitStamp registered users:
If any further excuses to start trading were required, Ripple has a generous XRP incentive program in place. Naturally, we have passed these benefits on to you and so will be offering the following fee schedule for XRP trades to get things off to the best possible start:
- 0% fees until 10 February 2017;
- 75% discount on fees until 28 February;
- 50% discount on fees until 31 March;
- 25% discount on fees until 30 April;
As of midnight on 1 May 2017, the fee schedule that applies to bitcoin trading will then also apply to XRP trading. As you would expect, we are very excited about making more services available to our customers. But the year is still young. Stay tuned for more developments as and when they arise! As always, thank you for your continued support, and we hope you enjoy this upgrade to your Bitstamp trading experience!