Crypto exchange Binance will open trading of two pairs using Ripple as the quote currency

After an extensive lobbying by the XRP community, Chief Executive Officer (CEO) of Binance, Changpeng Zhao (CZ) has announced that the exchange will list two trading pairs with XRP.

In a blog post, the exchange said that it would add, Tron and ZCoin to the XRP trading pairs. The blog post further said, “Please note that ALTS does not represent a new coin or token. It is the symbol for Binance’s new Combined ALTS Trading Market.”

Talking about the development, Zhao said, “We will be adding a couple trading pairs with XRP as the quote currency shortly. And rename ETH markets to ALTS market. Running out of space on the UI. Merry Xmas!”

He further stated, “We will prioritize adding more pairs for the projects that have donated to our charity at this (even thought we never mentioned this during our fund raising efforts). Happy holidays!”

Recently, CZ was in the news when he ripped into mainstream media for inaccurately reporting on the state of the bear market. At the time he had said, “Remember all the media coverage that was shilling blockchain/crypto, directly or indirectly encouraging people to invest, near the ATH, and are now bashing it. Wouldn’t it make more sense if they did the reverse?”

XRP’s fortunes changed dramatically, when Ripple officially distanced itself from the token. In October, there were multiple news reports that said, XRP might be official currency for the 2020 Tokyo Olympic Games. A Japanese national started a petition on Change.org saying, “As tourists stream into the country, demand for the local currency skyrockets, causing long lines at currency exchanges, as seen at past events like Beijing 2008 and Rio de Janeiro 2016. Confusing exchange rates and language barriers further complicate the problem. We believe that the fast transaction times and security of Ripple Lab’s XRP cryptocurrency would be a great contribution towards solving this problem.”

Apart from that XRP made news last month, when it briefly replaced Ethereum on the second place, according to CoinMarketCap.

Also read: Crypto exchange recently launched by Japanese financial giant SBI Holdings has implemented Bitcoin, Ethereum and Ripple deposits

Source: https://www.crypto-news.in/news/binance-chief-cz-announces-adding-xrp-base-currency-two-trading-pairs/