Major Crypto Exchange Adds XRP Pair Despite SEC Complaint

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Tue, 01/26/2021 - 14:27
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Alex Dovbnya
XRP can now be traded against USD Coin on the KuCoin cryptocurrency exchange
Major Crypto Exchange Adds XRP Pair Despite SEC Complaint
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Singaporean crypto exchange KuCoin has added a new trading pair with the XRP cryptocurrency, bucking the broader delisting trend triggered by the SEC's complaint against Ripple Labs.

Holders of the controversial token are now able to trade it against USD Coin (USDC), the second-largest stablecoin by market cap.

According to data provided by Messari, the XRP/USDT trading pair recorded over $4.5 million worth of trading volume over the past 24 hours.

https://messari.io/
Image by messari.io 

Earlier this month, Binance.US delisted XRP due to regulatory scrutiny related to the SEC lawsuit, while Coinbase and a slew of exchanges indefinitely suspended trading.

A few exchanges, such as Uphold and Gatehub, have refused to delist XRP until there is a court decision in the Ripple case. KuCoin, however, is the first major exchange to actually list a new trading pair since the complaint became public.

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KuCoin Goes on Stablecoin Spree With TUSD, USDC and PAX Listings

Bitcoin SV and EOS get listed as well

Apart from XRP, Bitcoin SV (BSV) and EOS (EOS) can also be traded against USDC starting from today.

KuCoin—which is backed by high-profile Chinese investment firm IDG Capital—is available in the U.S. However, its American users will not be able to go through the know-your-customer (KYC) registration procedure that is required to increase one's withdrawal limits above 2 BTC.

In late November, KuCoin fully resumed deposits and withdrawals after suffering one of the largest cryptocurrency-related hacks in history: an estimated $281 million was stolen from the exchange back in September.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.