Anybody interested in the realm of alt-coins will be pleased to know that Luno will soon support the ability to trade Ripple on its platform.
Luno currently boasts support for Bitcoin, Bitcoin Cash and Ethereum but has decided to add support for Ripple following market research of its users.
“Last year, Luno asked a sample of customers which coins they would most like to see added to the platform. The survey found that Ripple was the coin they most wanted to buy. The interest in XRP has been building for some time, as many banks and networks use Ripple to provide fast, low-cost cross-border payments,” the firm said in a statement.
Launched in 2012, Ripple is designed to facilitate cross-border transactions. The solution has proved effective enough to be adopted by several banks including PNC Bank (US), Santander Bank (US) and Standard Chartered Bank (UK).
The coin itself, XRP, was introduced as a digital asset and blocks containing the coins are released by Ripple Labs periodically. You can read more about the Ripple Network and XRP here.
“We have always limited the number of coins we offer, only listing digital currencies which have liquidity, are secure and have the utility which will benefit our clients. While cryptocurrencies are still in their infancy, coins like XRP demonstrate the benefits that blockchain-based assets can offer. 2020 looks as though it will be another very important year for the sector as more people use digital coins as part of their day-to-day finances,” chief executive officer at Luno, Marcus Swanepoel said in a statement.
“Offering Ripple on the Luno exchange has potential benefits for thousands of Luno customers, especially those in developing markets who rely on cryptocurrencies to handle money into and out of their businesses,” adds Swanepoel.
There’s no word on when exactly Ripple will be added to Luno’s offering but we suspect it won’t be long now that an announcement has been made.[Image – CC 0 Pixabay]