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Ripple Announces 3 Preferred Cryptocurrency Exchanges for XRP Payments

Ripple today, on August 16, announced the three cryptocurrency exchanges which company called the partners via which they prefer to transact their xRapid payments service which, as known, uses XRP. The announced three exchangers include Bittrex, Bitso and Coins.ph, which reportedly are going to serve as preferred digital asset exchanges in the XRP ecosystem.          

In the recent interview with CoinDesk, Ripple’s chief markets strategist, Cory Johnson stated: “Ripple essentially encouraging all of its clients in the U.S., Mexico and the Philippines to use those three exchanges, respectively, for sending funds using its xRapid service… So in the U.S. we’re saying the gold standard, our official partner is Bittrex. So any bank can go to Bittrex and have guaranteed liquidity on the spot, trade their dollars for XRP, zip over to Mexico to Bitso, our preferred partner there, and convert (to Mexican pesos)”.

As confirmed by Johnson, all the financial institutions wishing to convert U.S. dollars, or Mexican or Philippine pesos will be required to have accounts with the exchanges. He went on explaining that the three named exchanges were chosen “due to their XRP holdings, allowing them to provide higher levels of liquidity… There’s a whole bunch of companies around the world that are using XRP and what we’re doing is identifying three other (exchanges) that have a lot of XRP liquidity and steering more liquidity their way”.

In addition Johnson also mentioned that the listed three exchangers are only the beginning of the new names that will be named further on explaining that “the corridors we’re focused on are organic… we want to focus on busy corridors. We want to focus on places where there’s a very vibrant XRP marketplace, and we want to focus on places where we can have the most value”.

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