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NDAX Becomes First Canadian Exchange to Support XRP’s Utility Fork Flare

Sun, 09/20/2020 - 11:36
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Alex Dovbnya
The distribution of Flare’s Spark token is now supported by Canadian crypto exchange Flare
NDAX Becomes First Canadian Exchange to Support XRP’s Utility Fork Flare
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Alberta-based cryptocurrency NDAX will support the distribution of the forthcoming airdrop of the Flare Network’s Spark (FXRP) token.

FXRP is valued as 1:1 with the Ripple-affiliated XRP cryptocurrency. Users will be able to receptive the new token directly to their wallets after the snapshot.   

Reaching out to global audiences   

NDAX is one of the leading digital currency exchanges in Canada that was launched back in 2014. It is registered with Canada's financial intelligence FINTRAC.   

In April 2019, NDAX partnered with Ledger Vault to provide a higher level of security for its users following the huge QuadrigaCX controversy that tarnished the reputation of the Canadian cryptocurrency industry.  

The same wealth management solution was also adopted by Uphold, another major trading platform that announced its support for FXRP.

Earlier this week, Coinspot, one of the oldest Australian exchanges founded in 2013, also joined the list of exchanges that will distribute Spark tokens.    

Flare is constantly expanding the list of supporting exchanges and custody providers but such juggernauts as Binane and Coinbase are yet to come on board.    

Flare CEO Names Main Disadvantages of Ethereum’s Proof-of-Stake

The snapshot date is already known 

On Aug. 12, Flare announced that the snapshot of all XRP addresses that will be able to claim Spark tokens will take place on Dec. 12.

It coincided with the birthday of Martha Coston, one of the most influential female inventors of the 19th century, who is famous for developing the Coston flare.

With the help of the EVM, Flare is attempting to bring smart contracts to XRP while building with the Ethereum network.

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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