XRP receives a quick boost as Binance Singapore opens XRP/SGD trading pair

Today, a Singaporean trading arm of the major crypto exchange Binance announced that it had opened trading pair of XRP/SGD on its platform.

Announced on October 8, Binance Singapore opened the trading of the third-largest cryptocurrency with the Singaporean national currency, Singapore Dollar. As a promotional stunt, the platform encourages XRP and crypto community to retweet the announcement tweet to win the Binance Singapore T-Shirt. It tweeted as follows;

https://twitter.com/BinanceSGD/status/1181818256195088384

Ripple’s XRP and Binance

For quite some time now, XRP is on the limelight with the Binance cryptocurrency exchange. The CEO of Binance, Changpeng Zhao (aka CZ) earlier confirmed that the decentralized exchange of Binance is soon launching XRP-backed native token on Binance DEX and Binance Chain.

This was suppose to be announced a bit later. But such is the nature of blockchain project, #transparency. Can't hide anything.

Well, there you go, #XRP (on chain pegged) on #BinanceChain and @Binance_DEX.

Guess which flood gates this opens up? https://t.co/Mxpm5jZCfz

— CZ 🔶 Binance (@cz_binance) October 3, 2019

As for now, the third-largest cryptocurrency is gaining a brief surge in its daily market capitalization. The token is currently up with 0.47 percent within the past 24 Hrs as it trades at the value of $0.27 against USD. Moreover, the coin’s market capitalization is also showing a quick rise and sits with $12,055,249,931 on October 9, 2019.

Besides, the Binance exchange announced to hit its eighth phase of the lending product wherein the platform offers 14-days fixed-term lending products. Notably, the exchange included XRP in its program among the set of other cryptocurrencies such as Binance Coin (BNB), Binance USD (BUSD), Bitcoin (BTC), EOS, Ether (ETH), Ethereum Classic (ETC), Tether (USDT) and Chainlink (LINK).

It’s worth noting that the lending product was initially rolled out with only three digital assets, BNB, ETC, and USDT, and in Sept this year, the platform added privacy-focused cryptocurrencies, including Monero (XMR), Zcash (ZEC) and Dash (DASH).

More so, the largest payment platform BitPay has also confirmed that it will launch the support for XRP by the end of this year – which will enable the worldwide merchants to accept XRP besides limited sets of cryptocurrencies.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.