BlockQuake To Add XRP And Digital Assets To Its Trading Platform

May 9, 2022 10:51 pm Comments

BlockQuake is a firm that provides a crypto trading platform that plans to support over 250 trading pairs by the end of 2022 and just launched a zero fees promotional offer.

The platform has stated that it will be adding XRP as one of those pairs along with a variety of other prominent digital assets that are in demand.

Besides digital assets, the platform also supports a large number of fiat currencies as well which means that users are not limited to just US dollar based pairs.

With XRP being added to an additional crypto exchange, it is expected that more capital may be allocated to the digital asset and that XRP’s trading volume will get a large boost.

FinanceFeeds reports:

The trading platform will add Ripple (XRP), Cardano (ADA), Stellar Lumens (XLM), ChainLink (LINK), Bitcoin Cash (BCH), and USD Coin (USDC) to the existing crypto offering: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Tether (USDT).

As to fiat currencies, BlockQuake will continue to fully support the US Dollar (USD) and will add the Canadian Dollar (CAD), Euro (EUR), Japanese Yen (JPY), Australian Dollar (AUD) and Great British Pound (GBP).

BlockQuake is also working on enabling deposit and withdrawal capabilities for non-USD fiats and credit and debit card purchase options.

One of the interesting things about BlockQuake is that the firm is supposedly New York based and is registered with FinCEN.

As of right now, XRP is still not able to be traded in crypto exchanges within the United States so it is likely that BlockQuake is not providing its services for US citizens if it has plans to add XRP to its list of trading services.

The firm is currently applying for its New York State Bitlicense which will allow it to be more compliant with crypto regulations which may be needed if the firm is going to continue to grow and scale during a time where the SEC is enforcing heavily on the industry.

The firm also plans to do other services that are related to yield farming and staking which are all crypto-related services that have experienced increased demand in the past couple of years.

FinanceFeeds concludes:

BlockQuake is currently pursuing its New York State BitLicense, and voluntarily undergoing an audit as scrutiny over the crypto ecosystem intensifies.
The exchange intends to file for regulatory approval from FINTRAC in Canada, FCA in the UK, AUSTRAC in Australia, and FSA in Japan.

In addition, the funding is expected to help the firm expand the exchange to include a derivatives trading platform (futures & options), esports and gaming guild projects, and yield farming and staking.

Additional fiat currencies available on the exchange could include Mexican Peso (MXN), Brazilian Real (BRL), Korean Won (KRW), Nigerian Naira (NGN), Indian Rupee (INR), South African Rand (ZAR), United Arab Emirates Dirham (AED), Saudi Riyal (SAR), Qatari Rial (QAR), Vietnamese Dong (VND), and Chinese Yuan (CNY).

The fact that exchanges around the world still looking to add XRP to their list of tradeable assets despite the SEC lawsuit is a strong testament to what will happen once the lawsuit is over.

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