Crypto Exchange Binance Adds Ripple-Based Trading Pairs in New Expansion

Binance one of the most well-known Cryptocurrency exchange will start its trading of two pairs with the help of Ripple (XRP) as the quote currency, a blog post confirmed Dec. 24. Set to launch the same day, the TRX/XRP (Tron) and XZC/XRP (Zcoin) pairs represent the first time for Binance to use XRP as the base currency.

As part of the update, developers will rename the current Ethereum (ETH) markets to “ALTS,” with CEO Changpeng Zhao (CZ) explaining that a lack of user interface space necessitated the move.

Binance Technologies has set up a new data center near the Wenatchee airport on 17th November 2018. The ribbon cutting of the $20million data center was done by the well-known signatories. The headwinds in the industry did not seem to hamper the celebratory mood in any way.

The new Binance complex has been packed with specialized computers that are meant to handle bitcoin transactions. The head of operations for North America Jeff Stearns is enforced though the bitcoin value has dipped by more than 70% since the high in December 2017. According to him, the bearish market at present is just the right opportunity for them to seize.

Stearns considers Douglas country a perfect haven in terms of low-cost hydropower and mild climate that would be really helpful to keep the racks of computers cool. Port of Douglas county executive Director Lisa Parks considers the data center to be a huge get for the area contrary to the view of other neighboring jurisdictions like the City of Chelan and Grand County that banned the setting up of cryptocurrency operations in the city. They also seemed to be of the opinion to raise the cost of utilities for these businesses as they perceived it to be a high-risk sector.

There were even protests from the residents of the port of Walla because they considered cryptocurrency mining to be energy- intensive. Critic Bob Carson from port walla also stated that cryptocurrency was a sort of legal gambling. He considered it to be a business model that was neither predictable nor was it of any worth to the earth or humanity.

Bitmain, however, is a privately held company that has its base at Beijing. They are planning for a public offering. The revenues for the company seem to flow from the sale of virtual currency mining machines. The east Wenatchee data centers would make use of their own hardware. The facility is about to employ 20 people and they are looking to branch out into artificial intelligence is what the operations head Jeff Stearns has to say. In regards to the future token pair listing policy, Zhao stated that assets whose designers had donated to Binance’s Blockchain Charity Foundation will get many favorable thought.

“We will prioritize adding more pairs for the projects that have donated to our charity at this (even thought (sic) we never mentioned this during our fund raising (sic) efforts),” he added.

XRP jumped almost 20 percent on the news, taking XRP/USD to $0.44 at press time, a one-month high.