Swiss Crypto Exchange Smart Valor Adds XRP to its Trading Platform
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Swiss Crypto Exchange Smart Valor Adds XRP to its Trading Platform

February 1, 2020      Zain Raza

Ripple’s XRP has been added to the trading platform SMART VALOR, a prominent Swiss Company according to its published press release. Till now, the token is used in tandem with the US Dollar, Euro, Swiss franc, and pound Sterling.

SMART VALOR picked XRP due to its reputed market capitalization and popularity in the cross-border remittance sector. Moreover, XRP offers transactions at a pretty low fee and allows coins to transfer instantly.

The traditional transactions system in the banking sector takes an ample amount of time, which makes XRP’s cross-border remittance service a popular choice. XRP also allows the option of trading with multiple currencies at low-fee, whereas the existing system charges a considerable sum for these conversions. This is especially important for a small commercial bank which lacks access to multiple currencies.

Addition of XRP to the Smart Valor services is a sublime move as the demand for breaking global barriers and make transactions smoother, and low-cost is heightening. The value of On-Demand Liquidity transactions and the number of transactions in U.S dollars grew by 100 times and 390% respectively, during 3 – 4Q 2019.

Ripple hit rock-bottom in sales of XRP tokens when it fell by more than 80%  during the fourth quarter of 2019.

The volatility of  XRP has reduced significantly, the daily volatility was 3.1% in 4Q. The indicator around that time was 3.6% in the third quarter. XRP’s yield volatility is pretty much the same as the volatility of Bitcoin (3.0) and Ethereum (3.1).

Ripple’s XRP And Liquidity Demand Keeps Soaring

Ripple has paid a lot of attention on expanding its On-demand Liquidity affiliate network. A couple of months ago, a bunch of companies including MoneyGram, and Viamericas. On-Demand Liquidity allows cross-border payments using XRP tokens.

Recently, an online workplace that connects freelancers to employers around the globe, GoLance, has adopted a solution for enabling cheap payments and fast delivery services.

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Zain Raza
Zain Raza

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.