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Bitstamp Teasing Major XRP Announcement

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Thu, 3/08/2023 - 9:29
Bitstamp Teasing Major XRP Announcement
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Leading European digital asset exchange Bitstamp, the first exchange to delist XRP following the Ripple lawsuit in December 2020, is now preparing to make a significant announcement regarding the cryptocurrency.

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The news comes after a period of renewed interest in XRP following the positive court ruling against the Securities and Exchange Commission (SEC).

The controversial ruling has led to XRP being relisted on several other exchanges, including Bitstamp, Coinbase and Kraken.

As reported by U.Today, Ripple Labs, the company behind XRP, acquired a minority stake in Bitstamp. This development, reported by blockchain investment firm Galaxy Digital, is part of Ripple's broader strategy of increasing its presence in digital asset exchanges. Ripple Labs purchased its stake from crypto-focused hedge fund Pantera Capital.

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Earlier this year, Bitstamp expanded its services related to XRP. The exchange announced its support for Euro-backed IOUs on the XRP Ledger, marking a step forward in its commitment to using XRP for international transactions. This move was accompanied by a promotion offering zero transfer fees on all IOU transfers from Jan. 26 to March 27, encouraging Bitstamp users to leverage this new functionality.

Given this series of developments, Bitstamp's upcoming announcement concerning XRP is eagerly anticipated by the XRP community. It is uncertain what the specifics of the announcement will be, but it is clear that Bitstamp's relationship with XRP has evolved significantly since its decision to delist the cryptocurrency in late 2020.

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