OMGFIN, an Estonia-based exchange platform, has announced today that it will be extending its list of supported cryptocurrencies by adding support for Ripple (XRP).
OMGFIN is a licensed and regulated crypto exchange which is based in Estonia which aims to create a trading system that is based on young investors and social networking.
The exchange has now expanded its selection of supported markets of BTC, ETH, UQC, and USDT pairings by adding support for the Ripple (XRP) coin. Trading for Ripple is now live on the platform. Ripple, which is traded under the XRP ticker, is a popular cryptocurrency which is already listed on many crypto exchanges. It is among the best-traded coins, having a market cap of 12 billion US dollar.
At one point, for a few months, Ripple became the world’s second-biggest crypto by market cap after dethroning Ethereum. This surge that propelled XRP to number two position, was largely suspected to be because of the major partnerships that its company established in that period.
The Ripple network is an open payment system for digital asset transfers as well as a holding company which has many financial institutions and banks as members. Network members use this global system to make international payments at a lower price and at faster speeds.
XRP is the digital asset through which this financial value is easily transferred. Although mostly aimed at institutional use rather than individual, this has not stopped Ripple XRP from making its way on the list of major crypto exchanges. Be it its potential growing value or future use, this has attracted many individual investors to purchase XRP as well.
OMGFIN is the most recent exchange to add XRP to its markets, but it will certainly not be the last, as this cryptocurrency has steadily maintained its high position even in bearish times.