Swiss SIX Exchange to Launch XRP-Based ETP

Investment product was developed by startup Amun AG and got the AXRP ticker
02 April 2019   1294

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.

DeeMoney to Join RippleNet

RippleNet consists over 300 companies around the world, that can perform almost instant exchanges thanks to this network
19 March 2020   274

Thai fintech company DeeMoney became the first non-state company in the country to use RippleNet technology for fast international payments.

More than 300 financial institutions around the world are already members of the RippleNet payment network. The exchange of payments between these organizations occurs almost instantly.

Ripple is currently at the forefront of technology and compliance regulations[…]This brings in finance in Thailand by bringing a new level of efficiency and accessibility for cross-border transactions to and from the nation.

 

Aswin Phlaphongphanich

CEO, DeeMoney

According to Marcus Treacher, senior vice president of customer service at Ripple, there is a real revolution in Thailand's banking industry.

By being the first non-bank institution in Thailand to use RippleNet, it redraws the boundaries and rules of engagement by providing efficient international transfers at low fees and competitive rates. 

 

Marcus Treacher

SVP of Customer Success, Ripple

Currently, DeeMoney is already accepting payments in Thailand using RippleNet, and when the second phase of cooperation is launched, the company will be able to send funds abroad using the blockchain system.