Luno has officially added a new cryptocurrency to its platform. Starting today, Luno members will be able to trade using Ripple (XRP).
To celebrate the addition, Luno will allow users to trade with the cryptocurrency at a reduced fee. For a period of 30 days after its launch.
Prior to the addition of XRP, Luno was only able to trade in Bitcoin (BTC) and Ethereum (ETC). Ripple itself is a digital currency that stems from XRP Ledger, a peer-to-peer, decentralised cryptographic ledger. Luno says that it decided to add XRP to its platform, mainly because of its growing demand.
Value-wise, XRP’s average price sits at US$0.23 (~RM0.97), but has a 24-hour volume of more than US$603 million (~RM2.53 billion), and a market cap in excess of US$20 billion (~RM84 billion).
To be fair, news about Luno’s plan to add XRP to its portfolio isn’t groundbreaking. Word the platform’s endeavour first got out in December last year, when a report said that the cryptocurrency had already been approved by the Securities Commission (SC).