Ripple has just acquired a significant share of Bitstamp, one of the most established cryptocurrency exchanges in Europe. This strategic investment promises a fascinating evolution for XRP, Ripple’s digital currency.
Horizons Extension for Ripple
Ripple’s incredible expansion plan is moving forward. Faced with a complex and sometimes nebulous regulatory environment in the United States, Ripple has set its sights on Europe to forge new alliances.
The choice of Bitstamp is not insignificant: mentioned in Galaxy Digital’s quarterly report for the first quarter of 2023this partnership marks a decisive step towards a stronger presence of Ripple on the international scene.
With a daily transaction volume approaching $163 million, Bitstamp embodies for XRP a royal road to the European market.
In this context, the Californian company stands out more than ever as a force to be considered in the field of digital assets, in particular in the face of the notable growth of the Investment Banking team of Galaxy Digital over the previous year.
Considered Repercussions for XRP
Bitstamp is now the second largest market for XRP, just behind Binance, with 30% of the platform’s total trading volume attributed to this pair, XRP/Euro being particularly prized. Ripple’s position within Bitstamp therefore arouses the interest of XRP aficionados.
However, the stakes of this investment remain mysterious. Ripple and Bitstamp have kept silent about their respective intentions. However, voices are raised, hypothesizing a link with Ripple’s projects around its services Liquidity Hub (HL) or On-Demand Liquidity (ODL).
This Bitstamp acquisition could mark a real turning point for XRP. While the specifics of the deal remain shrouded in mystery, there is no doubt that Ripple is embarking on a strategic revolution in its sphere of influence. At the same time, in alliance with Coinbase, Ripple is valiantly continuing its fight against the SEC, making it clear that nothing can stand in the way of its ambitious trajectory.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
