Users can now trade XRP directly in EUR, USD and other Fiat currency
Today Kraken announced the addition of new pairs for trading between Ripple (XRP) and four fiat currencies (EUR, USD, JPY, and CAD). The new trading pairs mean that Kraken clients who want to buy or sell XRP in exchange for their preferred fiat currency can now do so directly.
What new trading pairs were introduced for Ripple on Kraken?
The following trading pairs were introduced today:
- XRP/EUR (ripple-euro)
- XRP/USD (ripple-US dollar)
- XRP/JPY (ripple-Japanese yen)
- XRP/CAD (ripple-Canadian dollar)
The expansion of XRP trading options comes after an explosive 40x gain in XRP price and 6x gain in average monthly XRP trade volume on Kraken in recent months.
How does this change benefit Kraken users?
Before this change, users had to swap their fiat currency to Bitcoin before being able to buy Ripple on Kraken. This basically meant that they would always have to pay an extra fee versus paying just one fee, since swapping Ripples for Fiat currency meant passing through Bitcoin first (as is the case with many cryptocoins that are not yet established on the cryptocurrency market).