The San Francisco-based marketplace DCEX officially welcomed a new cryptocurrency exchange that will use Ripple (XRP) as its “base currency”. Ripple will be available for both retail and institutional investors.
DCEX’s plans are to function as a crypto-to-crypto marketplace where all digital currencies will be trading against Ripple’s token XRP as the platform’s “base currency”. As the exchange operator announced, the platform will be powered by the industry services firm AlphaPoint.
Currently, registrations are only open for users and the exchange will apparently begin trading at an undetermined time in the next couple of weeks. As the excerpt from the announcement reads, explaining the market choice of the operator to use XRP as the base currency:
“XRP blockchain transactions typically settle in under four seconds, allowing for faster multi-exchange strategies and providing a speed advantage over other money movement options,”
The CEO of AlphaPoint, on the other hand, claimed that investors will see low network transaction costs when moving XRP between DCEX and other marketplaces.
The exchange will also include a total of 15 trading pairs and will support coins such as Bitcoin, Ethereum, Litecoin, and others – as well as privacy-centric coins such as Monero and Dash alongside the stable-coin TrueUSD.
Powered by AlphaPoint’s proprietary distributed ledger, the exchange will function as an exchange that is “secure, scalable and customizable” for operations with a processing capacity of “nearly one million transactions per second” as described by DCEX.
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