To gain market share from XRP community, Bitrue found success by putting XRP at the center of its trading platform
Bitrue is gradually gaining market share from the XRP community. This is a crypto exchange based in Singapore that has an approach to have XRP as its base cryptocurrency.
Bitrue has found success by putting the XRP at the center
Curis Wang, the CEO of Bitrue, said that their design is indeed unique which sets them apart from peer competitors.
“Our connection to XRP’s highly-engaged community differentiates us from the thousands of other exchanges out there.”
Curis Wang, the CEO of Bitrue
According to the Ripple report named “Bitrue Reaps the Rewards of Putting XRP at the Center of its Digital Assets Platform” on May 13, we can clearly see that Bitrue’s success and its potential in scaling up for future solutions. Wang noted XRP presents an opportunity to grow Bitrue’s crypto exchange platform as the industry moves towards scalable and practical initiatives,
“XRP’s role in solving problems with cross-border payments is a perfect use case that will drive growth, which is why Bitrue decided to make it the central asset of our exchange.”
Though currently a good strategy, Wang initially faced a hard time in convincing the Bitrue team to settle on XRP. This is because it defies the norm, whereby BTC is the base asset in most crypto exchanges which made it harder to persuade clients as well. He has, however, been able to change the narrative based on the idea of on-demand liquidity in cross-border payments.
In addition, Bitrue’s interaction with Ripple’s community has helped them gain new insights and support. The exchange now enjoys a wide XRP user base with over 77 pairs as of the end of 2019. Notably, its services were also expanded recently to feature crypto loans on assets like BTC and Tether by staking XRP as collateral.
Wang is optimistic that Bitrue will continue to grow as on-demand liquidity surges within international payment networks,
“As more people turn to on-demand liquidity for faster, cheaper global payments, Bitrue will grow alongside the increasing use of XRP.”
You can see the full video below:
- Ripple Says It’s Bringing A New Product To Market That’s Centered On Working Capital Lending
- Xpring Report: Ripple Focusing On Trends Like Decentralized Finance, XRP Has A Growing Use Case For Retail Investors