Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a significant development for XRP, the fourth largest cryptocurrency, major Japanese cryptocurrency exchange Bitflyer is planning to launch XRP crypto CFD, allowing leverage trading for traders.
Contracts for Differences (CFDs), similar to derivatives contracts, are a financial instrument that allows traders to speculate on the price movements of cryptocurrencies without owning the underlying asset. Additionally, CFDs give traders price exposure to manage price risk if they also own the underlying asset.
Bitflyer made this development known in a recent tweet. Before this time, Bitflyer only offered crypto CFD for Bitcoin; now this would include ETH and XRP.
The tweet, translated from Japanese, reads: "ETH & XRP Leverage trading coming soon. BitFlyer's leveraged trading product is 'bitFlyer Crypto CFD.' We will start handling ETH and XRP soon. We will continue to improve our services and provide our customers with a variety of investment opportunities."
Arman ShirinyanIn an official release, Bitflyer issued a notice of soon-to-be-available leveraged trading of Ethereum (ETH) and XRP. Currently, bitFlyer Crypto CFD handles the pair BTC-CFD/JPY, but the following pairs will be added with the start of handling ETH and XRP: ETH-CFD/JPY, XRP-CFD/JPY.
XRP Ledger receives major advancement
As announced in September, Ripple, in collaboration with the community, intends to bring permissionless programmability to the XRP Ledger (XRPL).
Tomiwabold OlajideIn line with this aim, several VM options for XRPL programmability have been researched over the past few months, and it has been determined that Web Assembly (WASM) is the ideal choice for the XRPL since it balances flexibility, performance and integration better than other options.
Ripple CTO David Schwartz previously indicated that one of the primary goals of Ripple's approach to programmability is to progress slowly and incrementally toward programmability rather than jumping right into it. In a blog post, RippleX announced the launch of "Extensions" as its very first step.
The XRPL EVM sidechain would serve a complementary role to the XRPL but is not a replacement for mainnet programmability.
Dan Burgin
Vladislav Sopov