Bitrue, Singapore-based digital assets exchange, launched last July. BiTrue is better in terms of stability, functionality, customer service quality, liquidity, user-friendliness, and reliability.
Curis Wang, CEO, and Co-Founder of Bitrue, stated, “One big move that we decided is that we launch ourselves with XRP as our base currency. So today, Bitrue is an XRP centric exchange. We haven’t just adopted XRP as our base currency, on top of that, we’re able to provide financial services products (using) XRP as well.”
For example, we are probably the very first exchange offering “earnings interest” while holding XRP on BiTrue. And then, just about a month ago, we also launched a crypto-backed loan for XRP. You can also pledge XRP as collateral and then borrow USDT stable coins or bitcoin for other purposes.
He stated this is very important. Bitrue adopted XRP as the base currency in just one single step. He further stated on top of that; we are working on something else. It is a financial service for XRP, we have more scenarios for XRP, and we even run an XRP validator as well. So, we try to decentralize the whole ecosystem. And, then we were even discussing what could be the future of XRP, what kind of thing that we can work together to make things bigger and bigger for mass adoption. Ripple helps us progress towards the community and then brings the community to Bitrue.
Sydney Ifergan, the crypto expert, tweeted: “More people will be able to adopt to on-demand liquidity to facilitate cross border transactions when Ripple XRP becomes the base currency of exchanges. Bitrue is a fine example.”
The pairing of XRP with as much fiat and crypto will improve the volume and liquidity. XRP will also improve financial inclusion for everyone with low fees. The reach will be improved, and more people from across the world will be able to use XRP.
Ripple XRP Developing Instant Trust Between Parties
Blockchain technology, according to Ethan Beard, Senior Vice President of Xpring at Ripple, has a unique ability to create entirely new economic models. Developing instant trust between parties, which conduct business with each other, is made possible using blockchain technology. The versatile impact of technology is felt across various industries.
Trade risks are reduced by the cross border payments facilitated by Ripple XRP, ensuring deeper visibility into millions of supply chain events every week.
Credit: Source link