Leading Hong Kong-based Trading Protocol Lists XRP

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Leading Hong Kong-based Trading Protocol Lists XRP

Linear Finance says it has listed the liquid version of XRP on its crypto trading platform.

Hong Kong-based, Decentralized finance protocol Linear Finance has announced the listing of XRP on its trading platform. The move occurred over one month after XRP secured victory in the SEC lawsuit, leading to a flurry of listings.

The team behind Linear Finance made the development known in a recent tweet. According to the official disclosure, the “liquid version” of XRP, ℓXRP, is now available for trading on the Liquid exchange.

Linear Finance described the announcement as “a surprise to kick off the new week.”

We have a surprise to kick off the week 👀

ℓXRP is now available on Linear Exchange. Trade the liquid version of @Ripple’s $XRP today 🎉$LINA #Linear #XRP pic.twitter.com/CRZlAw6a72

— Linear Finance (@LinearFinance) August 28, 2023

XRP’s listing on the Linear exchange would further provide another channel where traders can easily buy and sell the 5th-largest cryptocurrency by market cap.

Launched in September 2020, Linear Finance is a Hong Kong-based cross-chain protocol. Linear Finance has a suite of decentralized applications, including Linear Exchange – its native cryptocurrency exchange.

XRP remains one of the most popular crypto assets in Hong Kong, along with Bitcoin and Ethereum. While XRP itself has not made notable strides in the city-state, Ripple is currently penetrating the region with CBDC initiatives. As previously reported by The Crypto Basic, Hong Kong-based Fubon Bank has revealed plans to launch the pilot real estate tokenization program on Ripple’s CBDC platform in Q3 2023.

XRP Listed on Multiple Exchanges After Ripple’s Victory

Meanwhile, XRP has received widespread support among crypto exchanges in other regions since US District Judge Analisa Torres declared the asset a non-security.

Notably, exchanges that delisted the coin due to the SEC v. Ripple lawsuit were forced to relist it after the ruling.

Some exchanges relisted XRP include Coinbase, OKX, and Kraken. Gemini joined them to list XRP for the first time.

Like Gemini, Linear Exchange had never listed XRP in the past. Its decision to do so now would help sustain the asset’s positive momentum.

XRP Soars 3% in 24 Hours

Meanwhile, the recent listing of XRP on Linear exchange has not particularly impacted the asset’s price. XRP has continued to range between $0.51 and $0.53 for the past few days.

The coin surged to $0.54 yesterday and has retraced to the $0.53 territory. XRP is changing hands at $0.531 at press time, up 3% over the past 24 hours.

Source: ethereum.today

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