Australian Users of Crypto Exchange Can Now Make Instant Deposits with Ripple ODL

2019-12-3 23:00

Australian users of the crypto exchange Bitstamp will now be able to deposit US dollars to their account instantly using a Ripple-powered money transfer service called Flash FX. Transfers to the long-running trading venue would previously take days.

Flash FX uses Ripple Labs’s instant global settlement service, On-Demand Liquidity. The service makes the digital asset XRP a bridging currency between the customer’s Australian dollars and the US dollars supported by Bitstamp.

Buy Bitcoin Instantly at Bitstamp Thanks to Ripple’s Crypto XRP

Australian users of the crypto asset trading venue Bitstamp will now be able to fund their accounts with US dollars much faster thanks to Ripple-powered global payments startup Flash FX. The company uses Ripple’s On-Demand Liquidity service to facilitate the near-instant payments. The news comes via a post to Flash FX’s website.

Traditionally, Australian Bitstamp users would have been forced to transact via SWIFT through their bank or another payments firm. A now antiquated system, SWIFT transfers take days and incur significant fees.

Using Flash FX, traders no longer need to wait for funds to arrive in their Bitstamp accounts. The service uses the Ripple-associated digital currency XRP to allow the near-instant settlement. Once customers have loaded their Flash FX account with Australian dollars, they can send them to the exchange via RippleNet and take up exposure to any of the crypto assets supported by Bitstamp. Currently, these are Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ether (ETH), and XRP itself.

The Flash FX service makes use of Australia’s new payments platform (NPP), as well as the On-Demand Liquidity service from Ripple. NPP is a national platform designed to simplify and speed up payments between participating financial institutions in Australia.

FlashFX: Fund Your Bitstamp USD Account in Minutes

Our users can now fund their Bitstamp account with USD in minutes. Experience the power of Ripple using the new FlashFX product offering.#Ripple #OnDemandLiquidity #Payments

https://t.co/XkRUFgZwvm pic.twitter.com/oIxUJLLBIV

— Flash FX (@fxflash) December 2, 2019

Ripple’s On-Demand Liquidity service allows RippleNet participants to send payments in one currency and for them to be received in a different currency in seconds. It works by exchanging funds to XRP to make the transfer, before converting them into the receiving currency.

NewsBTC reported last month on Ripple completing its investment in the US money transfer firm, MoneyGram. The $50 million total investment will reportedly help to support MoneyGram’s use of the On-Demand Liquidity service.

Despite news of apparent growing XRP adoption amongst companies early to use the On-Demand Liquidity service, the price of the digital asset has not experienced any noticeable uptrend versus the wider crypto market. The dollar value of the third largest digital asset by market capitalisation has spent much of 2019 in decline to its current price of $0.219.

 

Related Reading: Under 6.8m Bitcoin Changed Hands in the Past Year: Does it Indicate Positive Sentiment?

Featured Image from Shutterstock.

The post Australian Users of Crypto Exchange Can Now Make Instant Deposits with Ripple ODL appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Australian Dollar (AUD) на Currencies.ru

$ 104682.29 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $104302.56 - H: $105398.3
Капитализация $0 Rank 99999
Цена в час новости $ 10826.52 (866.91%)

australian exchange users crypto called flash money

Источник: newsbtc.com

australian exchange → Результатов: 126


Фото:

Блокчейн станет привычным явлением уже в ближайшем будущем

Генеральный директор биржи Australian Securities Exchange (ASX) Питер Хайом заявляет, что блокчейн станет очень популярной технологией в следующие семь лет. О собственном видении перспектив индустрии децентрализованных технологий он рассказал во время конференции vForum, которая недавно прошла в Сиднее. Блокчейн —...

2019-11-24 15:55


CoinSpot lists Australia’s first gold-and-silver-backed cryptocurrency

Australia’s leading cryptocurrency exchange, CoinSpot, has for the first time ever listed a gold-and-silver-backed digital asset and stablecoin, known as ‘Gold & Silver Standard’. In an Australian first, both Gold (AUS) and Silver (AGS) are now listed to buy and sell instantly, 24 hours-a-day via CoinSpot, providing the investment community an easily accessible stablecoin with […] CryptoNinjas: CoinSpot lists Australia’s first gold-and-silver-backed cryptocurrency

2019-10-23 16:34


Фото:

ASX Allies with Digital Asset and VMware to Develop DLT-Based CHESS 

The Australian Securities Exchange (ASX) and its financial technology (fintech) partner, Digital Asset have joined forces with VMware, a cloud infrastructure provider, to fast track the process of developing a distributed ledger technology (DLT) based solution that would replace the current Clearing House Electronic Subregister System (CHESS), reports ZDNet August 25, 2019.

2019-8-27 23:00


TrustED and Binance Launch First ICO Project on Binance Chain

TrustED, an Australian academic credential verification platform has joined forces with Binance crypto exchange to launch its ICO on the Binance Chain. TrustED, a platform focused on fostering transparency in the verification of academic certificates has allied with Binance exchange, the creator of the Binance Chain blockchain network, to launch TrustED on Binance Chain.

2019-5-22 22:25


TrustED and Binance Launch Service, First ICO Offering with Binance Chain

Bitcoin Press Release: Australian academic credential verification startup TrustED and top cryptocurrency exchange Binance, announce first ICO offering on the new Binance Chain. 20th May, 2019 – Adelaide, Australia – TrustEd, an Australian start-up dedicated to bringing transparency to verification of academic credentials via blockchain, and Binance, the world’s largest cryptocurrency exchange and developer of […] The post TrustED and Binance Launch Service, First ICO Offering with Binance Chain appeared first on Bitcoin PR Buzz.

2019-5-21 23:21


Фото:

Australian Securities Exchange Opens Customer Development Environment for Blockchain Testing

The Australian Securities Exchange (ASX) published a report on May 7, 2019, announcing the opening of its Customer Development Environment (CDE) for distributed ledger technology (DLT) testing. The exchange which has been developing a clearing and settlement system based on blockchain technology announced this latest development as it works towards a fully functional platform by […] Australian Securities Exchange Opens Customer Development Environment for Blockchain Testing was originally found on Cryptocurrency News | Tech, Privacy, Bitcoin & Blockchain | Blokt.

2019-5-7 15:59


TAGZ ICO

TAGZ is Australia’s first fully licensed and regulated Dual Gateway Exchange based in Australia and registered with the Australian Securities and Investment Commission (ASIC). Our focus is to protect our users by actively monitoring trading activity on our platform and saying goodbye to flash crashes, pump & dumps, spoofing, fake volume aswell as securing against possible data security breaches.

2019-3-28 10:35


Calastone Shares Its Own Blockchain Launch Plans to Rival Australian Securities Exchange (ASX)

The London-based Calastone announced on March 4 that it will be moving to its own blockchain platform. According to Financial Review, the network would be launched as soon as in May 2019. In the past, the Australian Securities Exchange (ASX) planned to be the first fully blockchain-enabled marketplace in the world. It seems that now […]

2019-3-6 19:26


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitstamp suspends trade for seven SEC-flagged tokens

Key takeaways Bitstamp has halted trading of AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for traders in the United States. The exchange made the decision as the tokens are flagged by the US SEC as securities.