FX Choice Integrates XRP Support to its Trading Platform
Belize-based forex exchange, FX Choice, announced via its official website that the firm is adding XRP support to its native trading platform.
As things stand, the crypto-fiat market is currently being explored by a host of different startups and companies, including established banking institutions such as Goldman Sachs, Barclays and Citigroup. Analysts and experts believe that this burgeoning market is currently valued around the $5 Trillion mark.
In relation to its latest move, a spokesperson for FX Choice said:
“We are pleased to announce that clients may now deposit and withdraw XRP (Ripple coin). For those unaware, XRP (Ripple) is currently one of the top five cryptocurrencies in terms of market capitalization. Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system. However, to deposit XRP, you’ll need to open an XRP-denominated account with us.”
What Does This Latest Move Mean for the Firm?
By incorporating support for additional cryptocurrencies, FX Choice is now following a growing trend which has seen various traditional forex based service providers enter the digital currency space.
For example, at the time of writing this article, Forex.com, one of the world’s premier brokerage firms is offering support for a host of different altcoins including Litecoin, Ethereum, Bitcoin and Ripple. In a similar vein, other popular brokers such as Simple FX, NordFX too have entered this growing market and are offering support for some of the top 10 digital currencies available today.
Lastly, this latest move will help FX Choice expand its reach to a new class of investor audience whose primary interest lies within the domain of digital assets.