CoinField Ready To Launch XLM/XRP Trading Pair
Stellar Lumens #XLM will be listed on CoinField as #XRPBASED pair "XLM/XRP" along with 6 direct fiat pairings: USD, CAD, EUR, GBP, JPY & AED.@StellarOrg @StellarLumens @KingRippleXRP @niccary @RealJohnDough @Ripple_XRP1 @xrp_news @XRPtheone @XRPstreetTEAM @XrpCenter @BankXRP pic.twitter.com/PVAtkW0PhY
— ₿ob Ras (@bobrasX) December 12, 2018
Other trading pairs at the exchange are going to be XLM/USD, XLM/CAD, XLM/EUR, XLM/GBP, XLM/JPY and XLM/AED. This is very positive for XLM a virtual currency and blockchain platform that has grown during the last few months.
The virtual currency exchange has also announced that the trading platform is currently live in 61 countries around the world. Furthermore, XRP trading pairs had only 0.05% fixed commission rate.
Stellar Lumens (XLM) is currently the fourth largest virtual currency in the market with a market cap of $1.99 billion. Each XLM coin can be purchased for $0.104. XRP, instead, is the second largest virtual currency after Bitcoin (BTC). It has a market capitalization of $12.15 billion and each XRP can be bought around $0.2968, according to CoinMarketCap.
A few weeks ago, when the cryptocurrency market started to plummet, XRP was able to surpass Ethereum (ETH) as the second largest virtual currency in the market.
XRP and XLM are competitors since both of them offer similar services to financial companies. However, XLM tries also to connect individuals rather than only institutions. Jed McCaleb is the co-founder of Stellar and also former CTO of Ripple.
XRP has also been expanding in the market during the last few months. Ripple is signing new partnerships with financial institutions all over the world trying to help them process cross-border payments. In the future, banks could start using the xRapid product that is related to XRP and would help firms reduce transaction costs and times.