Switzerland SIX Exchange's Amun Ripple XRP ETP Ready To Rumble Come April 2, 2019 Launch

Amun Ripple XRP ETP Really To Be Launched On April 2

The Swiss SIX Stock Exchange will be launching the new XRP-based exchange-traded product (ETP) on April 2nd, 2019. The information was released by the SIX exchange a few hours ago. This ETP will be tracking the price of Ripple and it will be the first-ever XRP ETP launched to the market.

SIX Exchange Launches Amun Ripple XRP ETP

Investors in Switzerland will now have the possibility to invest in this new XRP-based ETP that is going to be released as soon as on April 2nd, 2019. According to CoinDesk, Hany Rashwan, the co-founder and CEO of Amun AG, said in an interview that they received approval to launch the ETP.

Amun AG has also been granted the approval to issue ETP linked to other digital assets such as Litecoin (LTC), Bitcoin Cash (BCH), EOS, and Stellar (XLM). As per the company, the intention is to list all these accepted and approved crypto ETPs on the SIX exchange before the end of 2019.

This would allow many individuals to have access to the cryptocurrency market. Those investors that have been handling stocks but did not enter the crypto market, would be able to do it now with these ETPs. The firm was able to receive $4 million in funding to launch more channels for crypto ownership.

It is worth mentioning that the ETPs must be collateralized since they are inert investment instrument without active trading ideas. These crypto-related ETPs are also monitored and approved by the Federal Financial Market Supervisory Authority (FINMA), the regulatory authority of Switzerland.

Rashwan said that the ETPs must be backed and collateralized with an equal amount of cryptocurrency assets. It is worth mentioning that the funds must also be stored by a qualified custodian.

“The collateral also has to be kept at an independent qualified custodian. The calculation of the price is checked multiple times a day by several parties.”

This time, the ETPs are going to be collateralized with Kingdom Trust, an SEC-registered crypto asset custodian.

Switzerland is one of the most open countries towards digital currencies and blockchain technology around the world. The country has already developed a clear regulatory framework for companies to operate in the space.

XRP is the third largest digital asset in the market with a valuation of $13.03 billion. Each XRP can now be purchased for $0.3123.

Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Value Forecast: Top Crypto Coin Price Chart Analysis Today

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,472FansLike
2,795FollowersFollow
4,195FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud - one of the global payment processing giants - has become the latest member of the RippleNet family and would help ripple in...

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano's ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today