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XRP-backed ETP fund launched on European exchange…Details here

XRP-backed ETP fund launched on European exchange…Details here

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Answer XRP-backed ETP fund launched on European exchange…Details here

announced ETC Group announced the listing of an ETP fund powered by XRP on Deutsche Börse Xetra, one of Europe’s leading digital asset exchanges.

Interest in exchange-traded cryptocurrencies is growing because they provide investors with a safer and more liquid way to gain exposure to the underlying cryptocurrency.

The cryptocurrency XRP will join the company’s suite of crypto-traded products (ETP) already on the exchange including Bitcoin, Ethereum, Solana, Cardano, Litecoin, Polkadot…

Bradley Dock, founder of ETC Group, explained the reason behind choosing XRP by saying:

Ripple is quickly becoming a leader in global payment systems with hundreds of financial institutions choosing Ripple to provide a better international payment experience for their customers, in real time.

Read:There is circulating news of a hacking of a cryptocurrency exchange

Ripple CEO Brad Garlinghouse previously noted that despite the lengthy lawsuit, the company is enjoying record growth outside the United States.

The uptake of RippleNet’s On Demand Liquidity (ODL) service in the Asia Pacific and Middle East region continues to grow in response to the growing demand for quick settlements and instant access to funds.

According to reports, the Asia Pacific region is one of the fastest growing regions for RippleNet, with transactions up 130% year over year.

Read:Three cryptocurrency exchanges control 14.3% of the volume of Bitcoin traded

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The case of the SEC and Ripple will extend until 2023…details here

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