Major cryptocurrency exchange platform Binance recently announced that it will open trading of two pairs which will be based on Ripple (XRP). The recent blog post by Binance confirmed the new expansion. It also announced that the new pairs will become available since December 24.
The announcement reads: “Binance will add TRX/ XRP and XZC/ XRP trading pairs with XRP as the quote asset into the new Combined ALTS Trading Market (ALTS) at 2018/12/24 11:00 AM (UTC)”.
This announcement hence becomes the first time that Binance will use XRP as the base currency on its platform. Further on, the announcement hence confirmed that another important part of the update is that developers will rename the current Ethereum markets to ALTS. The development has the objective of supporting more trading pairs with different quote currencies.
The CEO of Binance, Changpeng Zhao earlier Twitted on the recent development explaining that a lack of user interface space necessitated the move of renaming the markets. Zhao’s original message on the addition earlier stated: “we will be adding a couple trading pairs with XRP as the quote currency shortly”.
Meanwhile the announcement by the company noted that ALTS “will not represent a new coin or token. It is the symbol for Binance’s new Combined ALTS Trading Market”.
Further Expansion of Binance
Earlier it became known that Binance will continue expanding its token offering in Q4. As reported earlier, they will be mainly focusing on fiat-pegged stablecoins.
On further expansion Zhao shared come details about future token pair listing policy they have adopted. The CEO confirmed that “assets whose developers had contributed to Binance’s Blockchain Charity Foundation would receive more favorable consideration… We will prioritize adding more pairs for the projects that have donated to our charity at this; (even though (sic) we never mentioned this during our fund raising (sic) efforts)”.