Ripple’s ambition is to make cross-border payments (remittances) a better experience by providing decentralized financial tools with strong institutional support. The one missing link for the Ripple company was the absence of their XRP token on the largest fiat on-ramp of the crypto world- Coinbase.
And apparently luck seems to be finding Ripple as they have been involved in extensive negotiation to form an alliance with the exchange National Association of Securities Dealers Automated Quotation, better known as Nasdaq.
This negotiation has been going on for a few months, with Ripple pushing its XRP token to be the first crypto coin to be enlisted when Nasdaq launches its crypto platform in 2019.
“The two-way process has been ongoing for more than four months and XRP is scheduled to be one of the initial coins listed when Nasdaq launches its crypto platform in early 2019.”
Nasdaq is great news and makes Coinbase less relevant for XRP.
According to the dialogue that has taken place so far between sources on both sides, this collaboration focuses on market capitalization that will place XRP in a parallel position with Ethereum.
According to a report by abacusjournal.com, a Nasdaq source revealed that the exchange is not interested in all the noise that occurs in the crypto market, but in scalability. Their exchange initiative going live in early 2019 can’t afford to ignore XRP, which ranks among the top five currencies by market capitalization.
He went on to explain that Ripple’s crypto currency has attracted as much attention as Bitcoin Cash, and if BCH is found in all exchanges, XRP should as well. Nasdaq has evaluated Ripple executives and accredited them as well organized and ranked, so it is ready to accept what they have to offer.
Another Nasdaq source also reveals to the magazine that they think Ripple and its token will probably be the second largest in the near future. Therefore, the reason for including XRP in the initial listing is obvious, as the main focus is market capitalization and liquidity.
The source went further to explain that, based on Ripple’s management team and its level of operation in the banking industry, it meets all Nasdaq standards established for market capitalization.
Ripple has complied with due diligence, making its management team available for the ongoing settlement, the scalability of its currency is an additional advantage.