Binance, the foremost cryptocurrency exchange by daily trading volume, announces a new base currency for trading pairs: Ripple’s XRP; Henri Arslanian, the PricewaterhouseCoopers FinTech & Crypto Leader for Asia, calls XRP a ‘game changer’ in executing cross-border payments
XRP advocates think the cryptocurrency should be a base pair option on the Binance platform. They have been stirring the platform’s CEO, Changpeng ‘CZ’ Zhao, to include the coin as one of its base currencies. Yesterday, 24 December, the exchange heralded the roll out of pairs TRX (TRON)/XRP and XZC (ZCoin)/XRP. As a base, XRP can be traded with other Binance supported cryptocurrencies.
We will be adding a couple trading pairs with XRP as the quote currency shortly.— CZ Binance (@cz_binance) December 24, 2018
And rename ETH markets to ALTS market. Running out of space on the UI.
The ALTS Trading Market
With yesterday’s announcement, Binance compounds the ETH Trading Market giving it the moniker ‘ALTS’. The renaming came as a response to a crowded user interface. Binance is looking forward to listing more trading pairs in their ALTS Trading Market.
Ripple the Game Changer
More and more banks are contemplating supporting cryptocurrencies. With that said, Henri Arslanian of PricewaterhouseCoopers calls Ripple’s protocol a game changer. Ripple’s four-second settlement of international payments rivals that of SWIFT. The real-world application of XRP is evidence the market is on the verge of maturing.
Crypto Markets of 2019
Arslanian remarks next year will be invigorating to the cryptocurrency sector as institutional investors gain a foothold in the market. He says well-established businesses will tie up with crypto-related companies to increase their portfolios.