Ripple (XRP) Trading Is About To Go Live In Australia (Via An Exchange)

The first regulated cryptocurrency exchange in Australia, named Independent Reserve, has recently announced that it will add support for Ripple’s token currency XRP this week.

The Sydney-based exchange will enable support for the third largest cryptocurrency by market cap after Bitcoin and Ethereum trading went live last year. The XRP launch is scheduled for July 7, and it will be available for both retail investors through the exchange and institutional investors in a form of over-the-counter trading.
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Right now, the exchange offers fiat trading pairs between USD, AUD, NZD as well as Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

In statements, the chief executive officer of Independent Reserve Adrian Przelozny explained the reasons for adding XRP support to the exchange, stating:

“There is a wide universe of digital currencies out there now, but to be listed on Independent Reserve they need to meet a range of criteria including quality, stability and volume metrics. Our clientele have been requesting XRP and we felt this timing was right to offer it to them.”

Ripple can be bought on the exchange from Saturday, and users can buy XRP with AUD, NZD, and USD. There will also be crypto trading pairs between all of the cryptocurrencies supported (Bitcoin, Ether, Bitcoin Cash and Litecoin).

Three months ago, Independent Reserve revealed that it gained approval from AUSTRAC to become the first cryptocurrency exchange in Australia that complies with the mandated rules. At the time, the CEO Przelozny announced:

“We passionately believe that the digital currency economy will – and should – become just another part of the mainstream economy. In order for that to happen, digital currency needs to be regulated just like any other asset class. “