Canadian Cryptocurrency exchange platform Coinsquare has listed XRP (Ripple) to its platform for trading as part of its expansion into the US market. The new listing appears to be a move against Coinbase, their largest competitor in the US. Users of Coinsquare are now free to buy Ripple through their platform.
XRP is the native asset of the Ripple consensus ledger and is the third largest cryptocurrency by market capitalisation. This means Coinsquare now offers five of the top ten cryptocurrencies. Making these coins available in their listing should help increase their reach to potential investors and markets seeking to buy cryptocurrency.
Coinsquare CEO Cole Diamond stated back in January that “adding ripple to the platform was near the top of the exchange operator’s agenda,” but has taken until this point to be implemented.
Listing on exchanges has been scarce for XRP as concerns whether the asset is secure caused uncertainty. Many exchanges are worried about the regulation of security tokens and that’s why many have not listed XRP sooner. Many investors have had to find alternative sources to the major exchanges to buy Ripple due to these security concerns.
Coinsquare’s expansion reaches to the US and the UK with plans to finance the endeavour through an Initial Public Offering (IPO) on the Toronto Stock Exchange with the hopes of raising $120m. This source of finance could push Coinsquare into the global market. The UK could see the service becoming available to sell or buy Ripple.
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