Just yesterday, August 16th, the team at Ripple announced that it was partnering with three exchanges to source instant liquidity of XRP for global cross-border transactions using xRapid. The exchanges included Bittrex, Bitso and Coins.ph. When any financial institution in the countries of the US, Mexico or the Philippines wants to use xRapid, these 3 exchanges will be used as intermediaries to facilitate the transaction and provide settlement in minutes.
XRP Does not need Coinbase
The news of these partnerships has been well received by the XRP community, with many making jokes that the digital asset does not need a Coinbase listing to be great. One twitter user had this to say about the exchange.
3 out of the 5 assets listed on
@coinbase are lower than #XRP on #Coinmarketcap This ‘Coinbase effect’ is way overrated.
Another twitter user would share the stats for global remittances and in doing so, paint a bright future for XRP and Ripple solutions:
World Bank estimates $667 billion will be remitted in 2019. This number is estimated based on economic growth and does not take into account a potential decrease of the remittance cost. If it costs less to send money abroad, more people will do so.
#XRP #XRPcommunity @Ripple
The Twitter Crusade to have XRP as a Base Currency on Binance
It is with this background of Ripple partnering with Bittrex, Bitso and Coins.ph, that many XRP fans have reignited the case of XRP as a base pair on Binance. Earlier on in the month, the XRP Community had petitioned Binance CEO, Changpeng Zhao, to add XRP as a base currency due to the fact that it was the most efficient method to transfer funds between exchange as highlighted by Weiss Ratings.
As news continues to spread with respect to the Bittrex partnership, many have taken to twitter to express their hopes and predictions that Binance will listen to their petition for XRP as a base currency. One such tweet that is making rounds in the XRP community is by Lauri Kurki who posted the following:
Was able to ask @cz_binance about #XRP as a base pair on @cz_binance. He is aware of the discussions and looking at additional pairs but he doesn't want to make any promises because this has influence on the price.@C3_Nik @XRPTrump @Hodor7777 @haydentiff @XrpCenter @BankXRP
— Discord (@DiscordinCrypto) August 17, 2018
In conclusion, the 3 partnerships Ripple has sealed with the three exchanges of Bittrex, Bitso and Coins.ph, has set the tone for more partnerships with other prominent exchanges. The XRP community hopes that the next announcement will be of Binance adding XRP as a base currency for trading or perhaps even to source instant liquidity for xRapid in all the countries the Exchange has an office.