The XRP gospel came from Japan.
Ripple (XRP), the third largest cryptocurrency by total market capitalization, is constantly evolving in both volume and new trading pairs. XRP is known to be very popular in Japan and especially in Asian markets. In fact, most of the volume of XRP comes from here. For this reason, it is very important news that FXCoin, one of Japan's well-known exchanges, adds new XRP trading pairs.
Herald for XRP
FXcoin, one of Japan's most important cryptocurrency exchanges, responded to the demands of XRP investors and announced that it added three new trading pairs to XRP. It is stated that users can trade XRP with Bitcoin (BTC), Litecoin (LTC) and Bitcoin Cash (BCH) trading pairs from this point on.
FXcoin entered the market last April by Tomoo Onishi, the former manager of the cryptocurrency exchange Deutsche Bank. Onishi worked for 17 years in the famous bank, whose name is often heard with problems, and then chose to switch to the cryptocurrency industry. It also appears that Onishi received a license from Japan's financial service regulator FSA in December 2019 prior to this breakthrough.
FXCoin, FSA Licensed
It is impossible to launch a crypto currency exchange in Japan without having an FSA license. Japan, where controls are kept very tight, therefore allows FSA-licensed stock markets to rise rapidly. It is very positive for investors that XRP also has three new trading pairs in such an exchange.
At first, the cryptocurrency exchange, which only supported the leading cryptocurrency Bitcoin, later added XRP and Ethereum cryptocurrencies. However, when XRP was first listed, only the Japanese yen could be traded. Yasuo Matsuda, the senior strategist of the stock exchange, stated in April that they started remittance transactions with XRP.
XRP Use Is Not Limited To A Single Area
FXcoin currently not only lists XRP but also uses the Ripple network and XRP cryptocurrency for remittance transactions. So XRP can definitely reach more volume with this popularity in Japan. This is seen as a positive factor that will indirectly affect the price of XRP / USD .
