Wednesday, March 3, 2021

Singaporean Crypto Exchange KuCoin Adds XRP Pair despite Ripple-SEC Lawsuit

KuCoin, the cryptocurrency exchange based in Singapore, has reportedly added a new trading pair with the digital token XRP, without considering the delisting trend initiated by the lawsuit filed against Ripple by the Securities and Exchange Commission.

With this new development, XRP holders can now trade the digital currency against USD Coin (USDC), the second-largest stablecoin by market capitalization.

Read Also: Daniel Keem, Creator of DramaAlert Buys 1,000,000 XRP, Says XRP Is Going To $2 after Ripple-SEC Lawsuit

Going by the data provided by Messari, the XRP/USDT trading pair recorded over $4.5 million in trading volume over the last 24 hours.

Following SEC’s lawsuit against Ripple, a number of exchanges and crypto-related firms, including Binance.US, Coinbase, Crypto.com, Galaxy Digital, Jump Trading, among others, announced the suspension of activity related to XRP on their respective platforms.

However, a few crypto exchanges, such as Uphold and Gatehub, have refused to delist XRP, waiting for the final verdict on Ripple’s lawsuit before giving the removal of the embattled cryptocurrency a second thought. But KuCoin, among major exchanges, is the first to add a new XRP trading pair since the announcement of the lawsuit in late December 2020.

Bitcoin SV (BSV) and EOS Also Listed By KuCoin

According to the report, Bitcoin SV (BSV) and EOS were also listed by KuCoin alongside XRP, which implies that they can also be traded by users starting from today.

KuCoin, a crypto exchange backed by high-profile Chinese investment firm IDG Capital, is available in the United States. However, its American users will not be able to go through the know-your-customer (KYC) registration procedure that is required to increase one’s withdrawal limits above 2 BTC.

Read Also: Despite Delisting XRP, Binance.US and Ripple Moved 51M XRP worth $13M

In late November 2020, KuCoin fully resumed deposits and withdrawals after suffering one of the largest crypto-related hacks in history: an estimated $281 million was stolen from the exchange back in September 2020.


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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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