CoinField Exchange has unveiled new online services. The popular Canadian crypto exchange has extended its services to over 61 countries and will offer XRP as its main base currency. This is in addition to 20 trading pairs against XRP. The Vancouver-based CoinField started exploring the idea of using XRP a few months ago but it is now a reality.
The platform offers six fiat currencies and its commission fee is at a minimum of 0.05% (maker fee). The new development comes with an upgraded matching engine, which has the capability of making up to 75,000 trades per second.
XRP reliability and cost-effectiveness
The market is awash with blockchain networks thanks to the growing cryptocurrency industry. However, XRP is in the top tier of these networks, reportedly one of the most reliable and most cost-efficient. The news of the 20 trading pairs across six fiat currencies is obviously exciting to the XRP community. Users will have simpler and reliable options for funding their accounts without necessarily having to use a third party.
The idea of the CoinField platform is timely to the industry, which is experiencing massive growth. Babak Bob Ras, the CEO of CoinField says, “By adding XRP as our base currency in all trading pairs, our users can move funds in and out of different exchanges or different wallets in a matter of seconds. We are directly benefiting our users with a stable, proven base.”
A lot of institutions and individuals have been looking for better payment systems with little or no success. The current wire transfers and international payment methods take days to settle and with so much uncertainty for success. The exorbitant transaction fee of about $20 USD – $35 USD per transaction is far more expensive than current technology would allow for.
The question now is which other exchanges, such as Binance, eToro, or Bittrex, will adopt a similar move?