XRP is a big deal in the cryptocurrency world. Some love it, stating it is going to be the biggest mover in 2020. Others hate it, claiming it is in bed with the bad guys, the bankers, stating it isn't even a real cryptocurrency.
Like it or love it, XRP is holding to it's promises and 2020 is off to a great start.
In most recent news, the Daily HODL shares XRP's volume now excedes the BTC trading pair with the Peso, on Mexico's "...largest crypto exchange, Bitso." and while some may think that's irrelevant for the majority Asian market, it is a big statement, since the success is tied directly to their value as remittance between the U.S. and Mexico via Ripple tech through Money Gram. It is a very, very big deal.
CoinMarketCap reports that Ripple’s native currency has leapfrogged Bitso’s Bitcoin/MXN pairing, with $5,139,329 in XRP volume compared to $806,619 for BTC, at time of publishing.
The exchange facilitates Ripple’s XRP-powered cross-border payment solution called On-Demand Liquidity (ODL), assisting money transfer giant MoneyGram in moving 10% of its daily transaction volume between Mexico and the US.
Says Daniel Vogel, the CEO and co-founder of Bitso, in a recent interview,
“We are finally capitalizing on the huge cross-border flow that exists between the U.S. and Mexico, which is between $30 and $36 billion a year… We’ve built the product alongside with Ripple, and we’re seeing a significant amount of traction, and we believe that this is just the beginning of something…
“We just launched a beta in Argentina, which should become a full-blown experience starting next month, and we have a team in Brazil that is actively looking into Brazil. It’s an interesting jurisdiction because it’s a large market — it’s the largest economy in Latin America.”
Other Ripple news recently suggests the company may be preparing to be the first full-blown blockchain company to go public. If this trend continues, we may see the decoupling from Bitcoin that XRP devotees have been calling for.
Original article can be found here:
https://dailyhodl.com/2020/02/04/xrp-volume-flips-bitcoin-btc-on-crypto-exchange-bitso-as-ripple-gains-traction-in-mexico/
