DCEX, which is a marketplace for trading cryptocurrencies mainly aimed at retail and institutional investors, recently announced that Ripple’s XRP will be soon used as base currency for trading on their platform. Having XRP as a base currency means that all the other offered cryptocurrencies on the platform will be traded against this token. As reported, there are currently 15 coin pairs available on the exchange platform.
The officially announced pairs which can be possible to be traded with XRP included Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum Classic (ETC), OmiseGo (OMG), EOS (EOS), DASH (DASH), Tron (TRX), Monero (XMR), VeChain (VEN), IOTA (IOTA), ZCash (ZEC), stablecoin TrueUSD (TUSD), with plans to add Neo (NEO) and Cardano (ADA). In addition the exchanger reported that new pairs will be introduced in the nearest future as well.
The exchange platform is planned to be opened in the coming weeks while the registration of users is already possible to have. DCEX will also have such features as arbitrage trading across exchanges as they will have XRP listed as the base pair.
The official statement by the exchanger said: “XRP as a base currency allows for seamless, high-speed transfers between exchanges to take advantage of price inefficiencies”.
Another feature the exchanger concentrates on is the possibility to provide faster times for executions with low latency. As reported, the platform gives opportunity to have a total transaction volume of one million per second.
“XRP blockchain transactions typically settle in under four seconds, allowing for faster multi-exchange strategies and providing a speed advantage over other money movement options”, contained the announcement.
In addition, the exchanger reported that listing XRP on their platform will be serving another purpose of increasing overall liquidity in the market. The announcement said: “availability of novel currency pairs allows for new conversion pathways for market participants and gives traders easy ways to access many of the top cryptocurrencies”.