Singapore-based digital belongings exchange Bitrue has discovered success by placing the digital asset XRP on the heart of its buying and selling platform. The asset is utilized by Ripple’s cost community to facilitate low-cost, same-day cross-border transactions and Bitrue believes that XRP’s rising utility amongst companies and people will convey extra customers to its exchange.
“For any blockchain project to be successful, it has to be practical and scalable,” defined Co-founder and CEO, Curis Wang. “XRP’s role in solving problems with cross-border payments is a perfect use case that will drive growth, which is why Bitrue decided to make it the central asset of our exchange. In addition, our connection to XRP’s highly-engaged community differentiates us from the thousands of other exchanges out there.”
Wang first found XRP at a FinTech Convention and instantly understood its value as a much-need resolution to the issue of sluggish and costly world funds. Making Bitrue an XRP-centric exchange had the potential to make the enterprise greater than only a easy buying and selling platform. The corporate simply needed to persuade customers to belief them.
“I believed that by focusing on XRP, Bitrue could become part of a bigger ecosystem based around global payments,” stated Wang. “It wasn’t a typical strategy for a digital assets exchange and I had to work hard to convince our team that it was the right idea. Persuading customers to use our platform was an even tougher challenge.”
How the Energetic XRP Group Drives Trade Visitors
Demonstrating that increasingly more folks had been adopting On-Demand Liquidity to make cross-border transactions extra environment friendly helped Wang persuade the Bitrue staff to focus the platform on XRP. Gaining consumer belief was much less easy, till Curis started participating with the XRP neighborhood.
“XRP’s use case makes it both practical and scalable so it made sense for our business to focus on it,” recalled Wang. “Plus, we got to know the XRP community. Once they saw how much we were backing XRP, the community embraced Bitrue. They are extremely active and supportive. We recently ran a Twitter poll to see which assets to pair with XRP and we had thousands of responses.”
As 2019 got here to an in depth, Bitrue was exchanging 77 XRP pairs. “We’ve also launched digital asset-backed loans that allow people to use their XRP as collateral to borrow our assets like bitcoin, ether or a stablecoin like Tether,” added Wang.
Turning into A part of the XRP Group
Bitrue is worked up to take care of an XRP-centric platform. With companies and people all over the world persevering with to undertake XRP for cross-border funds, the corporate expects to additionally enhance transaction quantity on its exchange platform.
“As more people turn to on-demand liquidity for faster, cheaper global payments, Bitrue will grow alongside the increasing use of XRP,” concluded Wang. “We took a chance on centering our platform around the asset and are now benefiting from being a fully integrated part of the XRP community.”
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