Huobi launches XRP on OTC platform

Huobi OTC, an affiliate of Huobi Global, recently unveiled the Huobi Derivative Market (Huobi DM) exchange. They have now made the latest announcement about its addition of XRP trading into its peer-to-peer over-the-counter (OTC) trading platform.

Ripple’s XRP joins Bitcoin (BTC), Ethereum (ETH), Tether (USDT), EOS (EOS) and Huobi's comprehensive stable coin solution HUSD (HT) as supported crypto-assets on their OTC platform, as per the announcement.

They ensure a secured bridge between Crypto-assets and fiat currencies, where the platform functions as an escrow between two parties.

Huobi’s OTC platform, which is one of the largest crypto exchanges by trading volume, offers an exchange bridge between fiats and digital assets. Singapore-headquartered renowned cryptocurrency exchange has reported a mammoth cent %age spike in its trading volume back in 2018 over the previous period, as per the sources of cointelegraph.

This platform has been emerging and turned out to be a huge success in terms of the trading volumes that have hit approximately $12 billion in just within a month or so and surpassed $20 billion marks in the few more days.

Joshua Goodbody, General Counsel of Huobi’s Global Institutional team, had mentioned in the past that: More sophisticated investors and traders from more established financial markets looking to gain exposure, including institutional players are visible in the swiftly maturing phase of cryptocurrency gamut. 

At the same time, we think many experienced, successful cryptocurrency traders are looking for a broader range of investment tools that have traditionally been available. Huobi DM is tailor-made to address these sorts of needs, Goodbody further had appended.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 86 levels (which is bullish), while hourly USD spot index was at 40 (bullish) while articulating at (11:05 GMT).

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex