Cryptocurrency Exchange Binance Adds XRP-Based Trading Pairsbr>
Cryptocurrency exchange Binance has added two trading pairs with Ripple’s XRP as the base currency.
Rolled out on December 24, the TRX/XRP (Tron) and XZC/XRP (Zcoin) pairs represent the first time for Binance to use XRP as the quote currency. Binance said that XRP will now be used more as a primary asset that can be used to make purchases of other cryptocurrencies listed on the platform.
The exchange also announced that the original ETH Trading Market will be renamed into the ALTS Trading Market to support more trading pairs with different quote currencies. Binance CEO Changpeng Zhao (CZ) explained that the move was spurred by a lack of space on the company’s user interface.
“We will prioritize adding more pairs for the projects that have donated to our charity (even though (sic) we never mentioned this during our fundraising (sic) efforts),” Zhao said.
XRP is currently the second largest cryptocurrency with a market cap of $15.4 billion. While bitcoin is known as the first cryptocurrency and ethereum is recognized for the creation of a platform for smart contracts, Ripple is considered as a currency exchange system that focuses on global payment solutions for banks and other financial institutions.