Owing to the lack of regulation and restriction in the United Kingdom, fraudulent companies have been flocking to the country.
DCEX – a San Francisco-based marketplace – is now set to become the very first cryptocurrency exchange to offer both retail and institutional investors the ability to conduct crypto-to-crypto trading with XRP has a base currency.
In a new announcement, the firm disclosed that its exchange and trading platform is set to be powered by AlphaPoint – and while registrations are presently open for new users, the exchange will launch at an unspecified time within the coming weeks.
The company cited that that XRP’s fast settlement times provide an alluring benefit for multi-exchange strategies. In a press release, the company confirmed its view that “XRP blockchain transactions typically settle in under four seconds, allowing for faster multi-exchange strategies and providing a speed advantage over other money movement options”.
AlpaPoint CEO Salil Donde has further claimed that investors will benefit from low transaction costs when using XRP as a base currency on the eventual exchange.
In a release, the company outlined that its use of XRP would provide “new conversion pathways for market participants and gives traders easy ways to access many of the top cryptocurrencies “
The operation itself intends to launch a total of 15 trading pairs including Bitcoin Litecoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Ethereum Classic, OmiseGo, EOS, DASH, Tron, Monero, VeChain, IOTA, ZCash, TrueUSD, and plans to add NEO and Cardano options at a later date.
The platform will leverage AlphaPoint’s distributed ledger platform, which is tipped to provide “a highly-secured venue and is the technology backbone for DCEX’s exchange to have a processing capacity of nearly one million transactions per second.”
The news comes shortly after Ripple confirmed that US President Bill Clinton would speak at its 2018 Swell Conference hosted in San Francisco this October.
At press time, Ripple is down by -1.54% day-on-day, and presently trades at $0.435994.