Things seem to be still working out great for XRP as the crypto bags yet another listing in a relatively new environment. On this day, 9th Jan 2019, the GBX (Gibraltar Blockchain Exchange) has announced its decision to add XRP as the first of the cryptocurrencies to be traded on its platform.
GBX Is The First In The Country
GBX came into being back in February 2018 through an ICO that pooled $27 million. GBX is designed as a crypto exchange and a digital marketplace for ICOs. In November 2018, GBX was issued with a full license by the GFSC (Gibraltar Financial Services Commission), effectively making the company the first in the country to operate a regulated crypto exchange. As such, GBX went on to offer insurance coverage for the assets listed on its GBX-DAX platform. XRP is the first of these digital assets listed on GBX-DAX.
Ripple To Re-Shape Banking And Finance
According to the founder and MD of the GSX (Gibraltar Stock Exchange), Nick Cowan, Ripple is a big industry player that mirrors GSX’s vision of re-shaping the processes and methods involved in the global banking and finance operations by use of the new and more effective blockchain technology. In that sense, and since XRP is a crypto token that can be traded globally, adding the coin to the GBX-DAX listing works well to boost liquidity and adoption.
How Does This Affect XRP?
At the time of this reporting, XRP’s price stands at $0.363, with a total market cap of $15 billion. Currently, there are about 40.79 XRP tokens in circulation within the crypto market. Judging from the recent events, it’s safe to say that XRP has remained relatively stable throughout the trials and tribulations faced by the market of late. As for the latest listing, we can only wait and see how XRP responds.