Two crypto exchanges serving international crypto markets announced the addition of XRP. Valr.com, a South African exchange, and Luno, a Singapore-based exchange that also serves 40 nations with over 3 million users.
Can emerging economies give XRP the price push it needs?
XRP will now be available to millions of new investors thanks to recent announcements from VALR.com and Luno.com, two exchanges that serve investors in emerging markets, that recently added the Ripple native asset.
VALR is a S. African exchange that allows traders to buy and sell a number of cryptocurrencies paired with the Rand, the national currency of S. Africa. VALR offers more than 50 cryptocurrency pairs, the largest selection of any S. African exchange.
VALR offers maker rewards for traders providing liquidity, and referral bonuses. They have partnered with Bittrex for secure custody.
Luno is a Singapore-based exchange that serves 40 countries. They have offices in London, Malaysia, Nigeria, the UK, S. Africa, and Indonesia.
Luno also offers a variety of cryptocurrencies and trading pairs and characterizes themselves as the “most international” exchange. Luno lets traders withdraw in local currency directly to a bank account in a number of countries.
XRP prices may see a nice boost now that tokens are available to millions of traders and investors in quite a few emerging economies, thanks to these two additions.
VALR’s XRP trading goes live March 10th, Luno’s XRP trading will be announced soon.
Remittance Use Case Grows
XRP’s recent partnership with Bitso, in Mexico, SBI, in Asia, and Moneygram shows that it is serious about its international payments use case, and expansion into remittance markets.
Adding XRP to exchanges in developing nations is a necessity in order for people to actually use Ripple for this purpose. At the end of the day, people will use whatever option allows them to get local currency in their hands the fastest/easiest/cheapest way available.
In order for XRP to be the way that a migrant sends Euros or Dollars back home to their family abroad, it needs to be a simple transaction to convert that crypto-asset into Pesos, Baht, or Rupees.
Exchanges like VALR and Luno which let people market sell the XRP they receive and withdraw local fiat will be the facilitators for the XRP remittance use-case to become a real phenomenon that competes with traditional remittance methods.
What do you think of XRP being listed on these exchanges? Let us know in the comments!
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Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.