London Block Exchange and Uphold add support for Ripple (XRP)

London Block Exchange and Uphold add support for Ripple (XRP)

London Block Exchange, UK’s only dedicated multi-cryptocurrency exchange announces to add Ripple to the list of coins it offers to its customers. Ripple is the fourth cryptocurrency that is added to the London Block Exchange (LBX).

We’re now offering the ONLY #GBP/#XRP pairing,” LXB tweeted.

The LXB is a registered Electronic Money Services Directive (EMD) for e-wallet functionality by the Financial Conduct Authority (FCA) in U.K. Now this makes LXB not only the sole operator in the market to offer onshore U.K. banking but also the only exchange in the UK to offer Ripple-GBP pair.

The third largest cryptocurrency XRP is now available on the exchange to be traded directly to the customers along with the other available cryptocurrencies against Dollar, Pound and Euro. LXB also aims to add more coins to its platform very soon.

“As we open our doors to U.K. crypto enthusiasts, we’re listening and acting on what the community wants, and that’s an array of good quality coin options to trade, all backed by a reliable, comprehensive, and user-friendly service that they can trust,” LBX founder and CEO, Benjamin Dives said. “And we’ll be adding more coins by the week. So watch this space.”

The company also aims to add educational materials on its platform that will be helpful to newcomers in the industry. Through its College of Crypto page, the company will provide new and veteran investors with an array of blockchain information, coin tutorials and other crypto basics.

Earlier this week, digital payments startup Uphold and the Thai Digital Asset Exchange also added support for Ripple.

The San Francisco based Uphold already offers some thirty plus national currencies and digital currencies to its customers and Ripple is the latest addition.

The move back dates to January when Uphold raised $57.5 million from former Ripple executive Greg Kidd. Vice Chairman Uphold J.P. Thieriot says the move also follows a Twitter poll held by the company earlier this month which indicated that XRP was the most desired token to be added to the platform.

“There were a number of factors that we evaluated before adding XRP. First, XRP is the third most valuable cryptocurrency on the market and our members — over 12,000 of them — voted to have XRP added as to our offering. Additionally, XRP is faster and less expensive than other popular coins, making it ideal for remittance and other use cases that our members want to enlist,” said Thieriot.

Thieriot explained that Uphold had been planning to integrate XRP for a month.

“Generally we have to find counterparties we can trade with, given our system, [since] we don’t have an internal order book. We have to create an integration with a third party. In the case of XRP, it’s an entirely new blockchain – it’s not like adding an ERC-20 token, which is relatively trivial for us.”

And the next step of this support includes integration with the Ripple blockchain itself that will allow direct deposits and withdrawal through the main net, according to Uphold.

Also Read: Ripple Donates $29 Million in XRP to US Schools

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