More and more cryptocurrency exchanges at different jurisdictions are seeing the benefits of listing XRP for their customers to either trade or invest in. Mercado Bitcoin, the largest cryptocurrency exchange in Brazil is the latest to list the third most liquid and valuable coin in the sphere.
In a press release, the exchange said beginning Oct 10, the exchange’s subscribers can begin trading or investing in the cryptocurrency. While elaborating more on the coin, the company took an effort to create distinctions between Ripple, the Fintech Company that offer blockchain based solutions to financial institutions, and XRP, a product of Ripple Labs that run on the open-source decentralized blockchain network called the Ripple Net. The exchange delved deeper describing the benefits of XRP and the consensus algorithms in place.
Aside from listing XRP for their customers, Mercado Bitcoin also offers Bitcoin, Bitcoin Cash and Litecoin. According to the company, these coins are relevant and draw value to the investor. The addition of XRP is part of the company’s overall objective of expansion, betterment of professionalism and business management as they seek to improve customer care and service delivery reflective of their multi-million investment.
In a statement, Gustavo Chamati said:
“The expansion of the portfolio represents an important step in our growth strategy this year, which includes an even greater professionalism in business management, improvements in customer service and relationships, and investments of around $10 million in security of information”
The exchange is the largest in Brazil with customers exceeding one million. They predominantly serve the Latin America clientele base. Last month, they executed 4,150 BTC in transactions representing 30 percent of the Brazilian market. This month alone, they have acted as a conduit executing 960 BTC in transactions.
As more exchanges list XRP, the market depth and liquidity increases making the coin even more attractive for investment.