Already in the last few weeks we have reported several times about the new milestones of Ripple and their native crypto-currency, XRP. Ripple seems to be in very liquid markets, such as between the USD and the Euro use. Lengths important the partnership between Ripple and the largest Mexican Exchange Bitso, to simplify payments for Remissen between the United States and Mexico, however. It is precisely in this market was set up by XRP and now a new record.
Ripple and Bitso on course for Success
The partnership with the largest Mexican Crypto-stock exchange Bitso castle Ripple already in 2018. Since the work the two companies Remissen very successful at it-to simplify Transfers between the United States and Mexico.
Is used in the process, the ODL of the Ripple. It is replaced in the case of a Transfer, the currency of the country of origin in XRP, the RippleNet sent, and then in the destination country in the local currency exchanged. The main advantages are cost a considerably better transaction speed and lower transaction.
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XRP liquidity index breaks record
The usage of the payment corridor seems to be more and more increase, because the liquidity index for Ripples XRP, coupled with the Mexican Peso (XRP/MXN) reached on a Bitso a new record.
According to the Liquidity Index the liquidity index of XRP/MXN rose Offered to Bitso in the last four days continuously. Of 32.962.643 on 27. In may, he went up on 35.168.346 on 28. May and on 36.023.811 on 29. May, before the 30. May 36.795.339 its peak, it reached a record the previous record of 36.023.811 exceeded.
Liquidity Index for Bitso XRP/MXN (28-day moving trend)
Day progress: 92%
Today so far: 36,368,522
All Time High: 36,023,811
Data: https://t.co/v07j0Xh3s1 pic.twitter.com/CqJP1LrwFHLiquidity Index Bot (@LiquidityB) May 30, 2020
Explanation: the term liquidity refers to how easily an Asset can be exchanged in one market against another, or against cash. A high level of liquidity is simply put, a sign that much activity prevails in the market.
How do you see the development of the partnership between Ripple and Bitso?
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The comments in this article do not represent any trading recommendations or investment advice.
