Huobi Pro now supports Ripple

The XRP / BTC and XRP / USDT trading pairs will be added to Huobi Pro today, 23.11.2017
23 November 2017   1823

On Thursday, November 23, the Huobi Pro Exchange will launch the Ripple (XRP) bidding. According to the Exchange, the trade will go in pairs XRP / BTC and XRP / USDT.

In the end of October, the Huobi Exchange based in China announced the withdrawal from the industry and reformatting to "a provider of information and research services in the field of blockchain." The main direction of the company's activity will be directed to the Chinese market.

At the same time, a separate company, Huobi Pro, was created, which is oriented to work at the international level. The major currencies that the exchange supports include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash and Ethereum Classic. Also over the past few weeks, support for EOS and 0x has been added.

At the moment of press, this announcement didn't have much effect on the XRP price.

Ripple Chart
Ripple Chart

Main market parameters are:

  • Average price $0.238595
  • Market cap $9 215 223 766
  • 24h trading volume $202 745 000

UAE to Launch Ripple's Based Payment System

The system is focused on Asian markets and, according to the head of UAE Exchange will be supported by “one or two banks” working with the RippleNet
14 December 2018   107

UAE Exchange payment company based in the United Arab Emirates creates a blockchain payment system along with Ripple, Reuters reports.

The system is focused on Asian markets and, according to the head of UAE Exchange Promot Manghat, will be supported by “one or two banks” working with the RippleNet payment network. Its launch is planned in the first quarter of next year.

It is worth noting that in the UAE there are many workers from other Asian countries.
More than a third of remittances from this country go to India, 8.8% to Pakistan and 6.9% to the Philippines. Thus, the payment corridor being developed may in the future take a significant share of the international transfer market.

Blockchain holds tremendous promise for the industry but there is progress to be made before we see it go fully mainstream. We expect to go live with Ripple by Q1, 2019 with one or two Asian banks. This is for remittances to start with, from across the globe into Asia.
 

Promoth Manghat
Executive director and chief executive, Finablr

According to the information on the UAE Exchange website, the service works with 140 banks and is represented in 31 countries.