Ripple’s XRP ‘now live’ on Coinsquare platform; seeking global expansion 20128
Ashmita Dutta
Aug 2, 2018 at 3:32 PM

Coinsquare, a prominent cryptocurrency exchange in Canada, has recently declared its support for XRP trading. The exchange has leveraged the popular social media platform, Twitter to reach out with this information to its users.  On 31st July, 2018, Coinsquare, the Canadian exchange has announced that XRP has gone live on their platform.

Ripple’s XRP holding the third position in the cryptocurrency listing belongs to the Ripple Consensus Ledger [RCL]. The addition of this token to this Toronto based exchange facilitates trading of the digital currency. Since the release has been in beta, the accounts of the users would be funded with this cryptocurrency and carry out trading with fiat and other digital currencies. However, XRP withdrawal is not feasible when directed towards external wallet.

The Tweet

With the entire rolling out, XRP withdrawal by the market capitalisation is anticipated by Coinsquare platform. According to the notice of the exchange, "During the beta, you unfortunately cannot directly withdraw XRP. In order to withdraw that value, you have to exchange it to BTC, ETH, or fiat first, then withdraw. Our team is working hard to have XRP withdrawals implemented as soon as possible.”

See also: Ripple's XRP wallet addition to Wirex pays off


In the month of January, 2018 the CEO of Coinsquare, Cole Diamond clarified about the addition of XRP to the exchange platform in near future. However, months passed for the plan to get implemented. The statement made by Coinsquare, “While we’re excited about this launch, we also recognize it’s been a long wait, and we want to apologize for the delays and lack of communication. We appreciate everyone’s patience with us and commit to doing better going forward.”

Previously, in an interview with Bloomberg, Cole Diamond said, “We’re going to be adding Ripple, we’re going to be adding Monero. We’re going to be adding other digital currencies that have their own blockchains and never did ICOs (initial coin offerings) – with the exception of Ethereum.

During this time he did not mention about the specific time at which the addition would be taking place on the platform. However, with this recent declaration, Coinsquare has become North America’s one the foremost fiat currency based trading platforms to support this digital currency.

See also: Ripple quarterly report shows Malta, "not South Korea", is now "the leading trader of XRP"

However, other notable exchanges like Gemini and Coinbase due to the U.S. regulatory interventions could not yet support digital currencies. Coinsquare, in this respect, may become the pioneer for the trading platforms to follow. The crypto exchange also envisions to make an international presence by launching its branch in Japan.

In this new venture, Coinsquare has collaborated with DLTa21 such that the new exchange in Japan would function in compliance to the regulations. According to Diamond, as reported by Ethereum World News,Japan is a unique market and we’re looking forward to offering our platform’s capabilities to the Japanese market.”

Image via Shutterstock

Join our Telegram group