Swiss SIX Exchange to Launch XRP-Based ETP

Investment product was developed by startup Amun AG and got the AXRP ticker
02 April 2019   284

Switzerland's largest stock exchange, SIX Swiss Exchange, launched the Exchange Traded Product (ETP) based on the XRP token. It is reported by CoinDesk.

Investment product was developed by startup Amun AG. According to its representatives, ETP based on XRP will be traded under the AXRP ticker. First news about launch of this product appeared last months. At the same time, representatives of Amun AG stressed that the company had already received permission from SIX.

To date, Amun AG supports several cryptocurrency ETP traded on SIX. In March, the company introduced an Ethereum-based instrument under the AETH ticker, and before that, a Bitcoin-based product (ABTC). Representatives of the company noted that by the end of the year they plan to launch even before a dozen different instruments related to cryptocurrencies.

At the end of last year, SIX launched the investment product called HODL5 developed by Amun AG based on the five most capitalized cryptocurrencies. Soon this ETP became the leader in terms of trading on the Swiss stock exchange.

Coincheck OTC to List ETH & XRP

OTC-platform from Coincheck aimed at large investors, started working about two weeks ago and minimum transaction threshold is 50 BTC
15 April 2019   251

Coincheck has added support for Ethereum (ETH) and Ripple's XRP token to the recently launched over-the-counter (OTC) platform. This is reported by Cointelegraph.

In addition to ETH and XRP, the Coincheck OTC platform supports Bitcoin. The management of the marketplace plans to add other cryptoactives in the future.

OTC platforms are focused mainly on large traders who want to reduce transaction costs when working with large amounts. In particular, transactions on such platforms are carried out outside the main book of exchange orders, which sometimes allows to avoid excessive price fluctuations. In addition, at such sites, investors often have the opportunity to buy or sell an asset at a better price.

OTC-platform from Coincheck started working about two weeks ago. The minimum transaction threshold is 50 BTC.

Last year, Coincheck fell victim to a massive hacker attack, during which over $ 500 million in XEM equivalent was stolen.

Then the exchange was bought by a large online broker Monex Group Inc. The deal amounted to $ 33.6 million.