XRP Becomes a Base Currency for 7 Fiat Pairs on a New Blockquake Exchange for Latin America
The third-largest digital asset by market cap, XRP is gaining a lot of traction as a base currency on a number of exchanges. This can be easily attributed to the fact that XRP processes transactions with speed and at a lower cost.
The latest exchange in this list will be BlockQuake. Formed in early 2018, this regulatory driven cryptocurrency trading platform will be launched in Q2 of this year. The team of BlockQuake is already planning a partnership with Ripple as they met up with the New York City team of Ripple in mid-January as they announced, “The BlockQuake team had a great meeting today with ripple xrp official XRP NYC team! Future partnerships are in the works.”
The co-founder and CEO of BlockQuake, Antonio Brasse at that time had thanked Miguel Vias, the head of XRP markets while further adding,
“We’re looking forward to the various partnership opportunities to come.”
Now, BlockQuake has yet again shared its plans with Ripple with the first one being the addition of XRP as the base currency on its platform when it will release in April 2019.
The exchange has big plans as Brasse shared to become
“Binance and Coinbase combined on steroids.”
Well, that’s to be seen as the exchange is yet to be launched, however, they are currently adding “former SEC & NYS talent” for regulatory clarity.
Right on its release, they are apparently “hoping” to list over 100 cryptocurrencies listed with five cryptos as a base currency, XRP is one among them and about seven fiats against those base digital assets.
“We're planning on neither charging wallet withdrawal fees nor charging additional fees for custody via a qualified custodian,”
Brasse commented on the fees part.
“We're trying to start there for the people. We started BlockQuake because we as traders were tired of being ripped off with fees that nickel & dimed us.”
He further added,
“We're also planning on having over a dozen order types available to traders immediately.”
In late December, the biggest crypto exchange by market cap, Binance had added XRP as a base currency after crypto community’s relentless efforts while R3’s global payment platform, Corda Settler also added XRP as a base currency which according to its CTO Richard Gendal Brown has been the “logical Step”. Back in November 2018, Canada's Coinfield exchange added XRP as a base currency as well.
At the time of writing, XRP has been trading at $0.3148 with 24-hours loss of 0.22 percent while managing the daily trading volume of $569 million.