Bitbox to Delist XRP Trading Pairs

Line’s global crypto exchange Bitbox announced on Monday its decision to delist all XRP-based trading pairs.

Though the company did not detail the exact reason behind the harsh decision, the growing allegations on Ripple’s digital currency might be a reason behind it.

“We keep a constant watch on all coins that are being traded on BITBOX,” the exchange noted. “If a coin does not meet our standards based on its performance, reliability, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.”

The Singapore-based exchange currently offers three XRP trading pairs - against BTC, ETH, and USDT - all of which will be delisted at the end of January 16.

After the mentioned date, the exchange will disable XRP deposits and cancel all unfulfilled orders. However, the clients of the exchange will have another month to withdraw their holdings in XRP from the platform.

“If you own any of the delisted coin on BITBOX, please withdraw it during the withdrawal period at the latest. You won't be able to withdraw this coin once the withdrawal period ends,” the announcement added.

XRP - a centralized player in a decentralized world

Bitbox’s parent LVC Corporation also operates another local exchange in Japan - BitMax - which is regulated by the Financial Services Agency (FSA). Despite Bitbox’s decision to delist XRP trading pairs, the Japanese sister exchange will continue to list the token against the USDT.

Though XRP was launched as a centralized project only for facilitating cross-border Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, the company attracted a lot of critics within the crypto community.

Despite Bitbox’s unlikely decision, Binance, one of the leading global crypto exchanges, is betting bullish on XRP. It recently introduced XRP-based perpetual contracts on its dedicated derivatives platform, offering traders 75x leverage.

What's interesting though is that XRP pumped about 10% right before the announcement. Could be a coincidence but pic.twitter.com/bpybZ7iWse

— Larry Cermak (@lawmaster) January 6, 2020