Crypto exchange Bitstamp has announced plans to launch a new crypto derivatives exchange in the coming months. This development follows Bitstamp’s upcoming acquisition by Robinhood, the commission-free trading platform. During the BuiltOnXRPL series, Eva Gartner, Bitstamp’s Head of Strategic Partnerships and Corporate Development, disclosed the development. She also showed a positive attitude towards the future launch and called for maintaining the partnership with Ripple Labs.
Ripple, the company behind the XRP Ledger (XRPL), has been a key counterparty for Bitstamp. For example, the past year saw Ripple buy a stake in Bitstamp from Pantera, strengthening their partnership. According to Gartner, Bitstamp believes in the new derivatives exchange and expects to continue the partnership with Ripple. Stablecoins issued on the XRP Ledger could have already been a thing since the latter is a decentralized public blockchain.
The introduction of the derivatives exchange comes as the market slowly becomes aware of cross-border payment demands, which Ripple fulfills. The new platform will expand the company’s service offerings and attract other users interested in derivatives from cryptocurrencies.
Bitstamp to Partner with 30 Banks, Boosts XRPL and XRP Adoption
Robinhood plans to buy Bitstamp, which is expected to be completed by early 2025. Upon the completion of the arrangement, Robinhood wishes to proceed with the incorporation of the possibility of offering cryptocurrency futures through Bitstamp. This is aimed at attracting retail and institutional clients across regions like Europe, the United Kingdom, the United States, and Asia.
Apart from the new exchange, Bitstamp will also partner with 30 other commercial banks to offer these services. These expansions are also expected to catalyse the use of the XRPL and XRP more in the future. Ripple CEO Brad Garlinghouse also noted that the company is also developing a launch of the RLUSD stablecoin and expanding its cooperation with banks such as SBI Group. These kinds of efforts will help make XRPL the go-to platform for tokenising real-world assets (RWA) which could drive up the price and utility of XRP.
Overall, new Bitstamp’s experiment and its growing partnership with Ripple may have a substantial influence in the entire crypto space, developing the XRP Ledger and fostering XRP as a tool for world financial system.
Source: https://www.livebitcoinnews.com/bitstamp-to-launch-crypto-derivatives-exchange-strengthens-partnership-with-ripple/