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Peer-to-peer Trading of XRP Against Major Cryptos Now Available
Following on the decision by Coinbase to list XRP on its platform, major Chinese cryptocurrency exchange Huobi Global has also launched Ripple trading on its peer-to-peer crypto trading platform Huobi OTC. The company announced the news on March 6 in a press release shared with KryptoMoney.
Huobi OTC users will now be able to trade Ripple(XRP) for Bitcoin(BTC), Ether(ETH), Tether(USDT) and EOS in addition to Huobi’s own token Huobi Token (HT) and USD stablecoin HUSD according to the press release.
In OTC (Over-The-Counter) Trading two parties can transact directly with each other without going through an intermediary like an exchange. Unlike trading on an exchange though, OTC trading is fraught with settlement risk. This is where a platform like Huobi OTC can add value by providing escrow services to facilitate settlement between buyers and sellers.
Livio Weng, Huobi Global CEO, is quoted in the press release as saying th...
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