BitMart, one of the leading digital assets trading platforms, has listed the Ripple-affiliated XRP cryptocurrency on its platform. Users will be able to trade it against the Tether (USDT) stablecoin.
The new pair went live earlier today. The cryptocurrency's deposit feature became available from 7:00 a.m. UTC, while trading began at 8:00 a.m. UTC on the same day.
This announcement marks a significant boost for XRP holders as it allows them to access more exchanges in a more efficient way.
It also diversifies BitMart's digital asset offering for its users, who can now benefit from trading more altcoins.In late December 2020, several major cryptocurrency exchanges, such as Coinbase, started to delist XRP. This was primarily due to the announcement from the U.S. Securities and Exchange Commission (SEC) that it would be taking legal action against Ripple Labs, the firm linked to XRP, for allegedly selling unregistered securities.
Trading platforms may be exposed to litigation risk if they continue offering services related to XRP without registering as broker-dealers or having appropriate licenses related to selling securities.
The SEC contends that XRP is an investment contract and, thus, should be subject to federal securities laws. The announcement from the SEC caused the price of XRP to plummet, leading many investors to suffer significant financial losses.
More delistings will probably happen if Ripple loses its lawsuit against the SEC. The case is expected to reach a much-awaited resolution in the first half of this year.