The San Francisco-based arm of leading cryptocurrency exchange Huobi Global has added three XRP trading pairs to its platform, allowing US users to trade XRP against the US dollar, Tether and Bitcoin. The event coincides with its XRP giveaway as it celebrates $100 billion in trading volume.
According to Huobi’s announcement on Wednesday,
“Starting now, you can deposit XRP on the Huobi Marketplace, and the estimated opening time for XRP trading and withdrawals will be April 19th, 2019 at 12:00AM PST. Supported XRP trading pairs include XRP/USD, XRP/BTC and XRP/USDT.”
Users based in the US who are new to the platform will be required to register and pass level-one verification.
Huobi DM, the company’s trading platform for crypto derivatives, is celebrating its cumulative trading volume of $100 billion. The exchange says it’s giving away 200 XRP worth $66 to 10 people.
News from Huobi DM: cumulative trading volume exceeds USD$100 billion since our launch! To celebrate, we are giving away 200 $XRP to 10 lucky winners. Win by:
☑️Show us how you are celebrating this event+#HuobiDMCelebration
— Huobi (@HuobiGlobal) April 19, 2019
According to the announcement,
“Our crypto asset trading platform, recently marked a huge milestone; we’ve now exceeded USD $100 billion in cumulative trading volume since launch! The platform has come a long way since going live in beta this past November.”
Huobi is ramping up support for XRP across its ecosystem. The company added the digital asset to its over-the-counter (OTC) trading platform for institutional investors on March 6, joining Bitcoin, Ethereum, Tether, EOS and Huobi Token.
Huobi OTC has also announced a partnership with global payment processor Simplex. Customers can now use their Visa and Mastercard credit and debit cards to purchase Bitcoin, Ethereum, XRP and Litecoin over Huobi’s peer-to-peer exchange.
Say Ross Zhang, head of marketing for Huobi Group,
“Bridging the divide between the fiat and crypto is still a big problem for the community and this is one of the ways we are looking to solve it. Partnering with Simplex will allow us to significantly minimize the obstacles our customers face – something we are always interested in.”
Deposits through Simplex are capped at $20,000 daily and $50,000 monthly with a $10 minimum fee for transactions, with an average fee around 3.5%.
According to data compiled by CoinMarketCap, Huobi Global is the sixth largest cryptocurrency exchange in the world with 24-hour trading volume of $849 million.