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Takk

When will an XRP based exchange go online?

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When will an exchange open up with XRP as the gateway coin the way BTC is now?   With its claim as the fastest coin on the market, is seems like a no brainer.   If there were an exchange where every coin flowed into and out of xrp it would give it an extremely obvious and immediate use case.  

Last year when SBI partnered with Kraken    https://news.bitcoin.com/sbi-kraken-announce-multi-million-dollar-deal/     and then announced that it was opening an exchange  https://www.coindesk.com/sbi-first-bank-backed-digital-currency-exchange/    I thought for sure that because of SBI Ripple Asia... that an XRP based exchange was exactly what was about to happen.   It makes too much sense.... and yet, no news.  

Does anyone have any articles that point to this happening at some point or give a timeline to that kind of liquidity boost?

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 I've been wondering and asking this question for months.  The time it takes to get money on an exchange is crazy.  If you could get money on an exchange using xrp, that would speed up crypto adoption a lot.  

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SOON. Or as soon as the cat is out of the bag :spinlol:

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Tech is there. Someone has to be willing to do it on the business side. I think it's hindered by no one knowing Ripple even has exchange capabilities, and also any attempts to talk to RL for partnership is basically met with an automated response that they're only interested in banks.

To me, it seems this could be jump-started most easily if a company was seeded with XRP on condition (or escrow) to build the exchange as a business and that way their profit is tied to the xrp appreciation.

I've had a few projects and attempts on the business side of this already, but it's very difficult to line up the right partnerships, vendors, etc when there's basically no official support for the effort.

Edited by pftq

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I think that would make it a hell of alot easier to buy XRP compared to now. Like alot of us, I spent a week or so straight trying how to buy XRP. Unfortunetely, I wish Coinbase would jump aboard but, I doubt they will ever sell XRP. I think they are afraid of losing business from the Bitcoin Loyalists. I'm sure a bunch of them have already sent a bunch of emails threatening to stop using Coinbase if they start selling XRP. I really wish that there wasn't all hating on XRP and Ripple. It sucks to see **** coins gain value and acceptance while XRP gets shitted on by that crowd. Can't we all just get along !!!!!!!:aggressive:  

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2 hours ago, Gangus said:

I think that would make it a hell of alot easier to buy XRP compared to now. Like alot of us, I spent a week or so straight trying how to buy XRP. Unfortunetely, I wish Coinbase would jump aboard but, I doubt they will ever sell XRP. I think they are afraid of losing business from the Bitcoin Loyalists. I'm sure a bunch of them have already sent a bunch of emails threatening to stop using Coinbase if they start selling XRP. I really wish that there wasn't all hating on XRP and Ripple. It sucks to see **** coins gain value and acceptance while XRP gets shitted on by that crowd. Can't we all just get along !!!!!!!:aggressive:  

If history is anything to go by...get used to it. We were never accepted by the "community" and likely never will be.

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16 hours ago, pftq said:

Tech is there. Someone has to be willing to do it on the business side. I think it's hindered by no one knowing Ripple even has exchange capabilities, and also any attempts to talk to RL for partnership is basically met with an automated response that they're only interested in banks.

I know.  That's why I'm hoping that this will be exactly what we're looking for.  https://www.sbivc.co.jp/adv/   

At this stage they started the exchange last year, they have their license as of last month and it looks like they are allowing people to open accounts for when the exchange starts live trading.  

I can't find anything on a date for trading to start but thats basically Ripples oldest partner in Japan getting ready to open a cryptocurrency exchange.  

I think we can at least hope for all of these new exchanges in japan to trade XRP and deepen liquidity.  Beyond that it might be reasonable to hope that this one will use XRP as its bridging asset.   After all, they should have a personal investment in the price of XRP. 

Edited by Takk

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imo it'll happen naturally as arbitrage becomes possible/practical between exchanges as more crypto trading occurs globally

right now arb is near impossible on any kind of scale -- but when it gets easier, xrp is going to shine as the go-between digital asset

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6 minutes ago, Skippy said:

Competition. Almost every (if not every) coin is faster than Bitcoin. Yet most of the exchanges still use it as the main currency.

Yes, but it needs to be able to be bought and sold into fiat and in a lot of places.  Out of those options you really only have a few coins that are "real."  The rest of them you might as well be buying monopoly money and you're hoping to turn it into a real coin later.   

XRP is orders of magnitude faster than most other coins and you can actually trade it in for fiat.  

But, BTC is still the easiest to access

Edited by Takk

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4 minutes ago, zerpdigger said:

imo it'll happen naturally as arbitrage becomes possible/practical between exchanges as more crypto trading occurs globally

right now arb is near impossible on any kind of scale -- but when it gets easier, xrp is going to shine as the go-between digital asset

oh yeah.  I hadn't thought of that.   Because it's the fastest coin to send between exchanges... you would want to use it over anything else so you're sure to catch the price you wanted at the other end.  Can't do that as well when its an hour in transit.  

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