VALR, a South African-based cryptocurrency exchange, recently announced the addition of Ripple (XRP). Users will be able to exchange XRP versus South African rand (ZAR).
Stages of XRPZAR Support
The XRPZAR trading launch will roll-out over 4 stages as detailed below. VALR may keep any particular stage open as long as it is needed to ensure healthy market dynamics.
- Deposit XRP and ZAR (already open): Customers can already fund their VALR accounts with XRP and ZAR.
- Post-only (10 March @ 10:03 a.m.): In this stage, starting at 10:03 a.m., customers will be able to post buy-orders and sell-orders on the Exchange Buy/Sell screen. No matching (or completion) of trades will be allowed, which will give time for the order book to fill up with sufficient liquidity from traders. This stage will last a minimum of 10 minutes.
- Limit-only (at least 10 minutes after Post-only stage): In this stage, customers can only place limit orders on the Exchange Buy/Sell screen (market orders and the Simple Buy/Sell feature will not yet be enabled). During this stage, orders will be allowed to match. This stage will last at least 1 hour.
- Full trading (at least 1 hour after Limit-only stage): All trades, including market orders and Simple Buy/Sell orders, will be allowed.