A report by bitcoinist.com points out that Uphold just added XRP trading on its exchange platform. But, what is more interesting, is the fact that the first 5 million XRP that are bought on the exchange will not be charged any fees.
Uphold Tries to Take On XRP Demand
Uphold launched the XRP bid as a result to the growing interest in the cryptocurrency. Adrian Steckel, Uphold CEO, noted that “there has been huge demand for XRP, and Uphold is one of the first platforms to make XRP easily accessible.”
Aside from the proposal of no-cost transactions for the first 5 million XRP tokens sold, Uphold also gives its users the chance to rapidly convert XRP into various other currencies. Uphold presently accepts XRP trading into seven other cryptocurrencies, as well as 23 different fiat currencies, and even a few precious metals.
Uphold and XRP Collaboration
For the Uphold followers from recent months, the association with XRP maybe appears quite unsurprising. The exchange received in the past a significant funding offer for the digital currency from a former executive.
The move to add XRP could also be interpreted as an act against Coinbase, one of the most popular crypto exchanges in the United States. Coinbase does not offer XRP trading at the moment, which would give Uphold the upper hand.
Uphold has been very dedicated to create its separate reputation in US, apart from Coinbase, which is viewed as a more standardized platform. Uphold, instead, concentrates its attention on cryptocurrency-to-cryptocurrency trading and storing the assets in a “cloud money vault.”