Ripple’s ambition is to make the cross-border transfers a better experience by providing decentralized financial tools and having a strong partnership. This partnership would strengthen them to overtake other strong competitors like Coinbase.
Mother luck finally smiled at the Fintech company when it started partnership negotiation with the National Association of Securities Dealers Automated Quotation exchange NASDAQ.
This negotiation has been on for about four months now, with Ripple pushing to have its $XRP amongst the first set of coin to be listed when Nasdaq launches its crypto platform in 2019.
“The back and forth has been ongoing for better than four months and $XRP is set to be one of the initial coins listed when @Nasdaq launches its crypto initiative in early 2019. Nasdaq listing XRP early 2019 is huge news and makes coinbase irrelevant! #XRP.”
According to the dialogue that has been going on so far between sources from both parties, this collaboration is focused on market capitalization that will place $XRP in a parallel position with ethereum.
According to a report from abacusjournal.com, a source from Nasdaq revealed that the exchange is not interested in all the noise going on in the crypto market, but scalability. They cannot afford to sideline $XRP which happens to be among the top five security coin by market capitalization, in launching their crypto initiative in 2019.
He went on to explain that Ripple’s cryptocurrency has attracted as much focus as bitcoin cash, and if bitcoin cash is listed across all the exchanges, $XRP should as well. Nasdaq has evaluated Ripple executives and credited them as well organized and classified, so is ready to accept what they have to offer.
Another source from Nasdaq also revealed to the journal that Ripple and its crypto $XRP is likely going to be the second largest cryptocurrency in the nearest future. So the reason for including $XRP in the initial offering is obvious since the main focus is on market capitalization.
The source went further to explain that based on Ripple management team and its level of operation in the banking industry, it meets all Nasdaq standard set for market capitalization. Ripple has been compliant to due diligence, making its management team available for the ongoing arrangement, the scalability of their coin is an added advantage.
Ripple may not be focusing on taking the first position in the crypto market. Its aim to dominate the financial and business sector with its decentralized financial tools is likely achievable with this new listing.