Ripple [XRP] to experience high liquidity after being listed on Nasdaq powered exchanges

Ripple [XRP] to experience high liquidity after being listed on Nasdaq powered exchanges

Ripple [XRP] is currently the third largest cryptocurrency with a market cap of $26 Billion. Ripple is also the only cryptocurrency that is working along with financial institutions to create a better financial system rather than dethroning them.

Such being the situation, it should come without any doubt that Ripple has gained the support of Nasdaq, one of the biggest stock exchange in the U.S.A.

SBI holdings which is one of the largest financial organization in Japan just launched their crypto exchange, VCTRADE with Ripple being the first cryptocurrency to be traded.

VCTRADE is powered by Nasdaq’s technology (matching engine). This move further solidifies the potential that Ripple possesses by combining the current centralized organizations and the blockchain technology. By using Nasdaq’s matching system, the system is now open to more people who were so far hesitant about buying cryptocurrency.

SBI holding already uses Ripple’s solution for instant cross-border and inter-bank transactions.

VCTRADE is currently accessible for only the pre-registered 20,000 users and supports only Ripple. However, this is just the beginning and they plan to integrate both Bitcoin and Bitcoin Cash onto the platform very soon. They also plan to expand the reach and make the exchange available to a wider range of audience. Being a big financial firm themselves, it will definitely give a big boost to the liquidity of Ripple.

Another new crypto exchange, the DX. Exchange recently conducted a Facebook poll to let the community decide which coin to list. They recently announced on their Twitter pagethat Ripple emerged the winner.

They announced “Here’s the winner of our Facebook Poll: @Ripple will be available when DX. Exchange launches and an essential part of our community. #exchangeyourway” on their Twitter post.

One of the highlights about this is that DX. Exchange uses Nasdaq’s matching technology on their platform as well. Currently, users need to pre-register to gain access to the exchange. This will attract more people towards Ripple because DX. Exchange offers free crypto trading. This is not available on any other existing exchanges. People also feel protected because the exchange is regulated and does not face the threat of being a fraud which most other exchanges do.

By helping to implement its technology with crypto exchanges, Nasdaq which is currently the second largest stock exchange in the world is trying to build a bridge between the crypto space and the wall street.

While speaking to CNBC’s Squawk Box on Wednesday, Nasdaq CEO Adina Freidman says “Certainly, Nasdaq would consider becoming a crypto exchange over time.”

This just goes on to show that people are ready to welcome the blockchain technology. Nasdaq has previously made several moves towards this goal. Crypto asset exchange, Gemini previously implemented Nasdaq’s surveillance technology.

The world is ready to embrace the blockchain technology and Ripple is helping this case to a very good extent. Besides being the only cryptocurrency to have worked with major centralized financial firms, it also helps to improve the current financial system. By giving everyone access to the Ripple technology, Nasdaq is going to help the further growth of this asset.