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Ripple should start it's own regulated exchange in the US!


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I think, Ripple Labs should seriously consider to start it's own new regulated cryptoexchange in the US.

The Winklevoss twins did the same with Gemini some years ago.

Instead of waiting fruitlessly for others like Coinbase, Ripple could fund a new regulated US-exchange together with interested banks and payment providers as funding partners.

They have a lot of revenue through direct and indirect XRP-sales. In Q4 alone they sold XRP for 95 Million USD. There is enough money to start an exchange and promote it.

 

Edited by Zockempire
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Of course, they should. It is vital to have access to the US-markets also because of current and future xRapid liquidity. This liquidity is provided by retail investors in the moment. xRapid functions with the exchanges and the liquidity there and the USA is the most important market.

If Coinbase and Gemini block Ripple as indicated here, probably because of their large own investments in Bitcoin: https://www.bloomberg.com/news/articles/2018-04-04/ripple-is-said-to-struggle-to-buy-u-s-listing-for-popular-coin?utm_medium=social&utm_campaign=socialflow-organic&utm_content=crypto&utm_source=twitter  Ripple should do something about that.

They should not make themselves dependend on Coinbase and Gemini.

Edited by Zockempire
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@Zockempire while liquidity is important to Ripple and XRP. Ripple is focused on XRP for institutional use. One institution alone could buy more XRP than entire exchange can sell. There are over 50 exchanges already that list XRP anyway. I would prefer Ripple keep doing what they are doing and are best at. Yes we all want Coinbase, but the world is bigger.

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http://nasdaq.cchwallstreet.com/NASDAQTools/PlatformViewer.asp?selectednode=chp_1_1_4_2&manual=%2Fnasdaq%2Fmain%2Fnasdaq-equityrules%2F

 

digital-asset-framework-2017-11.pdf

 

coinbase is currently hindered by what I see as two arguments, decentralization and possible securities under SEC law. It has a rules that are not as clearly defined as say the Nasdaq.  Ripples labs has roadmap for decentralization, and there still regulation grey area from goverment on tokens/currency, as to what they are.  I may not agree with these, however that’s a mute point. If CB wants to be taken serious as an exchange then it will be intersting in the future to see how they react.  They won’t be able to hide forever, and although it would help liquidity I don’t see them as the end all be all for crypto. Rather have ripple focus on what they started out as, cross border payments. Let others do the exchange bussiness.

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In principle you are right, in practice, they are a pretty small outfit, and should stay focused on the things they are good at. Just because they are worth an astronomical sum on paper, doesn't mean they have the resources to pull this off. It takes more than just money -- devoting mindshare from senior mgmt to this might be a bad idea. IMHO they should have struck a deal with a company that deals with FX trading and is interested in branching out into crypto (+ maybe futures) and perhaps servicing xRapid. Maybe such a company does not exist.

It's a bit of a problem they've got: FX brokerages are too concerned with the non-regulation of crypto, and crypto exchanges like shitbase are a bunch of obstinate shitcoin fanatics who think they are in some sort of holy war against Ripple. I've never seen religion this fierce in the tech world, as the BTC-heads are....at least since the early days of Java, where we were all told how OOP will save the world from itself.

 

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I don't think it is allowed. But perhaps they can support an independent one. I would actually want SBI VC to open a SBI VC USA branch with XRP as the base pair.

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4 hours ago, Zockempire said:

I think, Ripple Labs should seriously consider to start it's own new regulated cryptoexchange in the US.

The Winklevoss twins did the same with Gemini some years ago.

Instead of waiting fruitlessly for others like Coinbase, Ripple could fund a new regulated US-exchange together with interested banks and payment providers as funding partners.

They have a lot of revenue through direct and indirect XRP-sales. In Q4 alone they sold XRP for 95 Million USD. There is enough money to start an exchange and promote it.

 

Silly wabbit. Ripple is for Banks not for kids. ;P

Actually, it might be a good idea, but much much later after Ripple's primary use case has had thorough adoption. Ripple's use case is a top-down approach, not a bottom-up approach like Bitcoin.

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4 hours ago, 7Bs said:

They had Ripple Trade. They shouldn't have closed it.

That's because they got into trouble for doing that. 

https://www.fincen.gov/news/news-releases/fincen-fines-ripple-labs-inc-first-civil-enforcement-action-against-virtual

Quote

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney's Office for the Northern District of California (USAO-NDCA), assessed a $700,000 civil money penalty today against Ripple Labs Inc. and its wholly-owned subsidiary, XRP II, LLC (formerly known as XRP Fund II, LLC). Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers. XRP II later assumed Ripple Labs' functions of selling virtual currency and acting as an MSB; however, like its parent company, XRP II willfully violated the BSA by failing to implement an effective AML program, and by failing to report suspicious activity related to several financial transactions.

Edited by TheXRPer
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6 hours ago, Zockempire said:

I think, Ripple Labs should seriously consider to start it's own new regulated cryptoexchange in the US.

The Winklevoss twins did the same with Gemini some years ago.

Instead of waiting fruitlessly for others like Coinbase, Ripple could fund a new regulated US-exchange together with interested banks and payment providers as funding partners.

They have a lot of revenue through direct and indirect XRP-sales. In Q4 alone they sold XRP for 95 Million USD. There is enough money to start an exchange and promote it.

 

Selling XRP the lifeblood of the company and they use it like a revolving credit line, but some expect it to hit $1000 dollars. It's the CEO's cash cow it seems to me.

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