Lykke Crypto Exchange Adds XRP Token Trading Pairs with BTC and USD, Eyes Using xRapid Product

The semi-centralized and Swiss-based Lykke cryptocurrency exchange is listing the XRP token against the US dollar and Bitcoin (BTC). The information was released by the exchange on October 30 in an official press release.

According to the press release, users will be able to access XRP using the Lykke Wallet mobile application and the Lykke Web Terminal. XRP is one of the most popular virtual currencies in the market and it allows users to send and receive money all over the world in a very fast and easy way.

The company behind XRP, Ripple, provides services and products to different companies around the world for them to process seamlessly cross-border payments. Banks and payment providers are able to use this digital asset (XRP) and further reduce costs and access new markets.

At the same time, the Lykke exchange seems very excited about XRP and Ripple. On Twitter, the exchange informed that they are talking about a possible xRapid implementation, but there is nothing confirmed about it.

During the last months, Ripple was able to sign partnerships and cooperation agreements with several companies. Indeed, it allowed the virtual currency to move over 100% during September. Although Ripple does not challenge SWIFT’s dominance in terms of volume transferred, in the future, this could change.

Cory Johnson, Ripple’s Chief Market Strategist, said that Ripple is planning to tackle SWIFT as their main competitor.

About it, Johnson said:

“Right now our biggest competitor to next current plan is an International banking contortion called Swift, and Swift has an arrow rate that senses up to 600 basis points. Imagine you send money from one country to another. You don’t know if it got there, you don’t know where along the way the information got lost, and they never send you any information back in the moment that you send it.”

In some cases, it is necessary to wait several days to receive the money back or even know if there is a problem. This is why Ripple entered this market. Users are able to know what happens with their funds every time they transact and they receive all the necessary information as never before.

Subsidiaries of the Lykke Exchange are licensed as financial companies and provide different services for clients. Additionally, Lyke is also a liquidity provider, issuance services and consulting. Additionally, the commissions for using the platform are almost close to zero.

XRP, the third largest virtual currency has a market capitalization of $17.78 billion dollars. Moreover, it can be traded bought for $0.442 dollars.

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