OKCoin, one of the world’s leading digital asset exchanges, today announced it has listed five new popular convertible virtual currencies on its exchange, including XRP, Cardano (ADA), Stellar (XLM), Zcash (ZEC) and 0x (ZRX). US traders and institutional investors in applicable states can now buy and sell these five convertible virtual currencies safely and securely through OKCoin’s licensed trading platform. The five new convertible virtual currencies will be paired against fiat (USD), Bitcoin and Ethereum.
New Fiat-to-Crypto Trading Pairs
The five new convertible virtual currencies will be paired against USD and available for trading to California residents. This addition adds to OKCoin’s rapidly growing stable of convertible virtual currencies paired against fiat, which also includes Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.
The five new convertible virtual currencies will be paired against Bitcoin and Ethereum and available for token-to-token trading in 21 US states.
“We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them,” said Tim Byun, OKCoin USA CEO. “As we build out the broadest set of financial products on a globally regulated exchange, we are committed to expanding the trading pairs for our customers, while bringing tokens to the exchange that offer utility, value and demonstrable use cases. Today’s announcement signifies a giant step forward for the entire ecosystem.”
Jim Nguyen, OKCoin’s VP of Marketing, commented during a conversation with CryptStorm:
“The five new convertible virtual currencies give OKCoin’s customers access to established projects in the blockchain ecosystem. This launch underscores our commitment to rapidly expand our portfolio of trading assets and continue our leadership position as a regulated exchange.”
What About the New Cryptocurrencies?
An independent, decentralized digital asset, XRP settles payments in 3-4 seconds and can scale to handle 50,000 transactions per second, which makes it the best digital asset for cross border payments. Ripple, an enterprise blockchain company, uses XRP in one of their products – xRapid – to help banks and payment providers source liquidity on demand.
Cardano is a decentralised public blockchain and cryptocurrency project that is fully open source. Based on a project that began in 2015 as an effort to change the way cryptocurrencies are designed and developed, Cardano’s focus is to provide a more balanced and sustainable ecosystem that better accounts for the needs of its users.
Lumens are the native token of Stellar, an open network that allows any currency or asset to be digitally issued, transferred, and exchanged over the internet. The Stellar public ledger has a built-in order book, pathfinding algorithm, and network token that together allow assets to move seamlessly between participants. With investment from payment company Stripe and a partnership with IBM, Stellar is an open-source, decentralized protocol for the transfer of value globally.
Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography. Aiming to make transactions more private than other cryptocurrencies, Zcash allows users to selectively disclose private information such as the sender, recipient and amount being transacted.
Enabling the creation of a decentralized exchange, 0x is an open source protocol designed for exchanging any ERC20 token on the Ethereum blockchain in a fast and cost-effective way. The 0x protocol facilitates the exchange of a growing number of Ethereum-based tokens including currencies, game items, and many more digital assets.
More Information About OKCoin
Founded in 2013, OKCoin is one of the world’s first and largest regulated digital asset exchanges. OKCoin provides traders and institutions with a fiat-to-token trading platform for digital assets including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Cardano, Stellar, Zcash and 0x. Offering fast trades and industry-leading expertise and support, OKCoin’s mission is to help eliminate trade barriers and improve transaction efficiency while complying with the highest regulatory standards in the US and the world. Headquartered in San Francisco, OKCoin has a global footprint with offices around the world to serve its growing community and customer base.