Ripple (XRP) is honored to be the exclusive base currency of the newly launched DCEX exchange. DCEX is described as “a next-generation digital currency exchange for retail and institutional investors powered by AlphaPoint blockchain technology,” on the official AlphaPoint announcement Medium.
It is, in fact, the very first exchange to integrate XRP as the exclusive base currency for its marketplace. The exchange is a brainchild of some of the most experienced financial professions that hail from various sectors of the securities industry. The team is committed to revolutionizing the cryptocurrency industry using the best of practices used in the wider financial sector. A section of the announcement on the Medium reads:
“We, as founders, have been in the crypto space since its inception that went unnoticed by many. Interest in blockchain is slowly becoming global, escaping the narrow indoor spaces of technically inclined groups of enthusiasts. At DCEX we firmly believe that a true industry leader must be unrivalled in every element of the service it offers. We offer the excitement of trading, and provide you with the means to navigate the uncharted waters of cryptocurrency trading.”
Furthermore, DCEX exchange will offer support for at least 15 trading pairs to its highly esteemed customers. Some of these include Ripple (XRP), Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), Bitcoin Gold (BTG), Bitcoin Cash (BCH), EOS, and Tron (TRX) among others. Moreover, the announcement said that investors should expect the list of listed assets to grow in the near future. In addition to that, the ten coins listed on Bloomberg Galaxy Crypto Index (BGCI) will also be available for trading on DCEX.
Why XRP as a base currency?
It is essential to note that the exchange has already begun registrations, although trading will kick off in a few weeks. DCEX integrates the best features that can be found on any cryptocurrency exchange. For instance, arbitrage among crypto pairs listed on different exchanges. The team utilized XRP to ensure seamless fast fund transfers from one exchange to another in order to have an edge over price inefficiencies.
XRP as the best currency was chosen for its ability to settle in less than 4 seconds hence the fast execution of orders along with lower latency. Besides, the high-speed transaction volume and the world-class network design and structure will achieve over 1 million transactions per second (TPS). Other advantages of using XRP protocol were to “increase of overall liquidity in cryptocurrency space,” and to lower the transaction fees between DCEX, other cryptocurrency exchanges, and marketplaces. Margin trading will also be offered to those investors who want to leverage their investments to achieve higher profits.
It is a well-known financial technology company ensuring institutions like DCEX are able to make liquid assets liquid. It utilizes its secure, scalable as well as customizable ledger platform to aid companies in harnessing the power of digital assets in addition to launching and operating various markets. Since its inception in 2013, AlphaPoint has been helping institutions with its cutting-edge blockchain technology solutions. It gives these institutions the power to realize their potential in the ever-growing cryptocurrency space.