CoinField, a Canadian crypto-exchange, had been planning to launch an exchange system with XRP as the base currency. That plan has now been realized as CoinField has announced that the service will available to its customers in over 61 countries all over the world. The users in these countries will have to register through a KYC process.
This move has received some positive reaction from XRP traders and enthusiasts and the development is partly a result of a petition put on by the crypto community to make it as its base currency. This move was also lauded by the crypto community present on Twitter.
Along with launching the exchange, CoinField announced that their customers can pair XRP with other 20 cryptocurrencies. The exchange can now facilitate two trading pairs and exchanges across six fiat currencies from various countries. Fiat currencies include the US Dollar (USD), Japanese Yen (JPY) Great Britain Sterling Pound (GBP), Canadian Dollar (CAD), UAE Dirham (AED), and Euro (EUR). The platform has set transaction fees at 0.05%. CoinField will also be including more crypto-coins by the end of this year.
CoinField’s CEO Bob Ras has referred XRP as a reliable and efficient network. Using it as a base currency will help users to move funds across exchanges from their wallets much faster. CoinField has upgraded its engine to increase transaction processing speeds up to 75,000 TPS.
CoinField has also stated a referral program where users can earn XRP tokens by referring new users to join the program. The user is awarded 10 XRP tokens for every referral and they also get 25% commission charged in every transaction executed by those they had been referred to.
Another exchange called XRP United was launched with XRP as its base currency. This justifies that XRP is the most preferred within the trading environment and this adoption might also suggest that other exchanges may soon consider following the suit. When this happens, the volume of XRP trading will gain resulting in an increase in the market value of XRP.