As a seasoned researcher with a knack for deciphering market trends, I find the recent developments between Bitstamp, Ripple, and Robinhood intriguing. With my finger on the pulse of the crypto world, I have witnessed the strategic collaborations between these players unfold, and I am eager to see how this alliance will shape the future of cryptocurrency derivatives exchanges.
In the coming months, the cryptocurrency exchange Bitstamp intends to debut a platform for trading crypto derivatives. Notably, this exchange is set to be taken over by Robinhood, a commission-free trading platform. Importantly, Bitstamp emphasizes its intention to maintain a close working relationship with Ripple even as they develop the crypto derivatives exchange.
Ripple in Spotlight for Bitstamp’s Crypto Derivatives Exchange Plan
Eva Gartner, who serves as the Head of Strategic Partnerships and Corporate Development at Bitstamp, recently revealed on the BuiltOnXRPL series that their derivatives trading platform is set to be launched within the following several months.
Gartner expressed their enthusiasm about the upcoming launch and looks forward to working closely with Ripple. It’s worth mentioning that Ripple Labs has been engaged in strategic partnership with the world’s oldest crypto exchange. Notably, Ripple previously bought a share in Bitstamp from Pantera Capital last year.
In the coming months, we’re planning to debut our proprietary derivatives trading platform. We’re thrilled about this development and look forward to potential collaborations with Ripple in this new venture.
Bitstamp, a platform known for its digital asset exchange services, is experiencing increasing interest in swift cross-border transactions facilitated by Ripple Labs’ decentralized blockchain, XRP Ledger (XRPL). Already, Bitstamp offers several stablecoins that operate on the XRPL.
The takeover of the exchange by Robinhood is anticipated to finalize around early 2025. Previous sources familiar with the situation disclosed that Robinhood intends to introduce cryptocurrency futures in collaboration with Bitstamp. Their goal is to draw both retail and institutional clients from the EU, UK, US, and Asia.
Impact on XRP Price
A representative from Bitstamp noted that approximately thirty financial institutions intend to provide cryptocurrency services via their platform, potentially enhancing the popularity of Ripple’s XRPL and XRP networks.
Furthermore, Brad Garlinghouse, CEO of Ripple, revealed that they are developing a new stablecoin called RLUSD, growing their partnerships with banking groups like SBI Group, and advocating XRP Ledger (XRPL) as the optimal blockchain for Real-World Asset (RWA) tokenization. This potential rise in XRP adoption could potentially lift the value of XRP.
XRP price jumped 3% in the past 24 hours and 11% in a week, with the price currently trading at $0.586. The 24-hour low and high are $0.566 and $0.591, respectively. However, the trading volume has decreased by 20% in the last 24 hours.
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2024-09-14 16:43