Ripple partner Bitso becomes the first platform in Latin America to earn a distributed ledger license from GFSC


  • The license will also cover transactions made through Ripple’s XRP-based xRapid.
  • The market reacted positively to the news as XRP/USD went up from $0.319 to $0.324.

Ripple partner Bitso, a Mexico-based crypto exchange, became the first platform in Latin America to earn a distributed ledger license from the Gibraltar Financial Services Commission (GFSC). As per the company, custody, withdrawals, deposits and trading will be fully regulated by the GFSC. Bitso clarified that the new license will make sure that the company is following all regulatory requirements:

“This license gives Bitso a leading position as one of the most innovative financial services providers in LatAm and the world, by becoming the first exchange platform in LatAm, licensed and regulated by the GFSC…

The DLT License understands the modern need for robust and speedy interaction with regulators in this fast-moving area of business, while ensuring it continues to meet its regulatory and strategic objectives, bringing more protection and certainty for users.”

The license will also cover transactions made through Ripple’s XRP-based xRapid.

XRP/USD daily chart

fxsoriginal

The XRP/USD is trending in an upwards channel formation. This Saturday, the price went up from $0.319 to $0.324, following a bearish Friday wherein the price went down from $0.320 to $0.319. The Elliot oscillator shows three straight bullish sessions, while the moving average convergence/divergence (MACD) shows that the signal line is about to cross over with the MACD line, indicating a reversal of bearish momentum.
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD jumps on US-China trade war escalation

Bitcoin (BTC) has built up a strong upside momentum during early Asian hours on Monday. The first digital coin has recovered from $9,900 and hit $10,665 high in a matter of hours amid strong bullish sentiments and growing trading volumes.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from Sunday’s sell-off

The cryptocurrency market is recovering down during early Asian hours with Bitcoin and the vast majority of altcoins navigating the green zone. The total market capitalization has settled at $268.9 billion

More Cryptocurrencies News

Litecoin price analysis: LTC/USD regains some ground, still below critical $80.00

At the time of writing, LTC/USD is changing hands at $74.30. The coin recovered above $74.00 during early Asian hours amid strong bullish momentum on the cryptocurrency market. 

More Litecoin News

Ripple technical analysis: XRP/USD sustained uptrend hints breakout above $0.3

Ripple price is lethargic under $0.28 short-term hurdle but $0.27 is a credible support area in the short-term. Despite the visible declines in the short timeframe charts, XRP/USD has sustained an uptrend from August lows close to $0.24.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP