Swiss SIX Exchange to Launch XRP-Based ETP

Investment product was developed by startup Amun AG and got the AXRP ticker
02 April 2019   629

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.

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   533

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.