Huobi Derivative Market (Huobi DM) to Launch XRP/USD Ripple Contracts on March 29
Huobi Global recently released a post on its blog. The post indicates that “Huobi Derivative Market (Huobi DM) will launch XRP contract at SGT 18:00 p.m. Mar. 29, 2019.”
The platform also posted the details of the XRP contract in a chart that explains the minimum margin ratios, adjustment factors, last trading prices, delivery dates, fees rate, delivery fees rate, face value, price quotation unit, and more.
Because the most seems quite cryptic and unlikely to get attention on its own, the platform also tweeted about the contract. HuobiGlobal tweeted:
“Huobi DM will launch Ripple ($XRP) crypto contract trading this Friday! Share this news to XRP community and comment below, 5 random winners will win 30 $XRP each.”
Huobi DM will launch Ripple ( $XRP ) crypto contract trading this Friday!
Share this news to XRP community and comment below, 5 random winners will win 30 $XRP each.
More information:https://t.co/rV0syU0VEz@Ripple_XRP1 @Ripple @Ripple_XRP_News #HuobiDM $HT pic.twitter.com/t8hSDQLLoR
— HuobiGlobal 🌏 (@HuobiGlobal) March 27, 2019
The platform’s decision to add XRP may signify just another way in which XRP is making headway. In recent months, it has been adopted by a number of platforms.
For example, cryptocurrency exchange CoinField added over 130 pairs of XRP to their testnet for backtesting. Another example of a crypto exchange that has added XRP is Coinbase. Trading became live in February.
The platform also described its position on the benefit of launching XRP, stating:
“The ledger is powered by a network of peer-to-peer servers. All accounts on this network can send or receive XRP to/from each other, while XRP can be used to send underlying fiat currencies between two parties.
In this way, XRP can function as a bridge currency in transactions involving different currencies such as US dollars, Japanese yen, Euros, Francs, and others in use on the XRP network.”