Ripple (XRP) is on the brink of getting listed on Independence Reserve, a 100% regulated Australian cryptocurrency exchange, as the exchange itself reported a few days ago. Apparently, since July 7th XRP is available on the before-mentioned crypto trading platform and can be exchanged against USD, AUD, and NZD.
Ripple (XRP) listed on Independence Reserve, an Australian crypto trading platform
Independence Reserve will also allow Ripple (XRP) trades against Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). For the beginning, to attract more XRP traders, the Australian cryptocurrency exchange is offering a special XRP-trading fee of only 0.1%.
We are excited to announce the imminent launch of our fifth cryptocurrency – Ripple XRP. XRP is the native currency of the Ripple Transaction Protocol. It is primarily used as a bridge currency for when two entities wish to trade different currencies where no pair exists.
Independence Reserve cryptocurrency exchange platform
According to the Australian crypto trading platform’s CEO, Adrian Przelozny, listing XRP came as a logical step in the company’s “strategy of adding high-quality digital currencies in a thoughtful and measured way.”
“Our clientele has been requesting Ripple (XRP), and we felt this timing was right to offer it to them,” he added.
Independence Reserve is the first Australian cryptocurrency exchange platform to be completely regulated and legal
The Australian Transaction Reports and Analysis Centre (AUSTRAC), the body that is responsible for cryptocurrency monitoring and regulations in Australia, approved Independence Reserve crypto trading platform and asserted that the platform is obeying the Australian legislation regarding cryptocurrency exchange to the letter.
Besides Independence Reserve, which is fully authorized as a cryptocurrency exchange platform, every crypto trading platform that operates in Australia has to register with AUSTRAC before commencing operations. This regulation became valid in April 2018 and also implies that every crypto-related company should also comply with the anti-money laundering (AML) legislation and counter-terrorism financing laws.