Cryptocurrency exchange PayBito recently announced it has added Ripple’s XRP to its platform. According to PayBito, XRP is a crypto asset that runs on RippleNet, the real-time gross settlement system (RTGS) and remittance network. XRP Ledger is the underlying open-source distributed ledger database of RippleNet. The asset was created by Ripple to be faster, more cost-effective, and a scalable alternative to other crypto assets as well as existing monetary payment platforms.
“XRP provides the traders and financial institutions with the most reliable and fastest option to source liquidity on demand. It is a digital asset that is built for payments, native to the XRP Ledger.”
While sharing more details about the addition of XRP, Raj Chowdhury, Managing Director of PayBito Exchange, stated:
“The addition of new coins helps us to serve our users better by allowing them easy access to varied trading options. It also encourages people to diversify their crypto portfolio which ultimately benefits the mainstream adoption and growth of cryptocurrencies and crypto trading.”
Founded in 2017, PayBito reported its platform is designed by a team with rich experience in Banking security systems, Cryptocurrency trading, and Blockchain technology.