Binance Pay and CoinGate have announced cooperation that would advance the acceptance of cryptocurrencies globally, providing a significant boost for the uptake of XRP. By a significant new agreement, XRP is accepted as a form of payment in over 200 stores across 70 countries.
XRP Global Acceptance Goes Next Level Thanks to This Partnership
Most CoinGate-powered shops now accept crypto payments from Binance Pay customers, and CoinGate merchants can accept Binance Pay payments at checkout. They will have the capability turned on by default.
Businesses in more than 70 countries that utilize CoinGate’s services and accept Bitcoin payments are anticipated to gain from the agreement. With the addition of the new partner, the number of merchants who have integrated Binance’s new partner’s cryptocurrency payment solution is already over 200, which is expected to increase dramatically.
XRP is one of the most popular cryptocurrencies among users of the black-and-yellow cryptocurrency giant’s payment service, which supports approximately 80 cryptocurrencies. Their global acceptance will increase due to the partner network’s expansion, solidifying their position as well-liked crypto options. AZCoin News reported that every cryptocurrency has regions where it is most widely used. While most American investors have a favorable skew toward Bitcoin, traders in South Korea have a higher positive skew toward XRP.
#XRP Emerges as the Most Popular Altcoin in #SouthKorea https://t.co/IXRUn2xxao
— AZCoin News (@azcoinnews) April 18, 2023
The use of cryptocurrencies as a form of payment is expanding, and alliances like this one help to fuel this development. The adoption of cryptocurrencies will certainly increase as the globe transitions to a more computerized economy, and projects like this will be essential in accelerating that development.
XRP ecosystem token listed
The British Virgin Islands-registered centralized cryptocurrency exchange BKEX, founded in 2018, announced the listing of a new trading pair comprising two tokens from the XRPL ecosystem: xSPECTAR and XRP.
The quote currency for the XSPECTAR/XRP trading pair that BKEX will list is XRP. The cost of purchasing one unit of the base currency with the quote currency is reflected in the price of a trading pair.
💯#BKEX New Listing | @xspectar#XSPECTAR will get listed on #BKEX
🔸Trading pair: XSPECTAR/USDT & XSPECTAR/XRP
🔸Trade: 21:00 on Apr. 19 (UTC+8)⏭Details: https://t.co/ip4zMsWJ9m#Bitcoin #cryptocurrency #BKEXNewListing pic.twitter.com/rQlVjv66x1
— BKEX (@BKEXGlobal) April 18, 2023
It may be necessary to capture better price differences, which is why XRP is used as the quote currency in the pair. Because XRP has cheap transaction fees, traders can profit from arbitrage possibilities. Web3 startup xSPECTAR is based on XRPL and has its coin, NFT collections, and the forthcoming metaverse.
The xSPECTAR was added as a validator to the UNL by the XRP Ledger Foundation in October of last year. XSPECTAR/USDT will be listed on BKEX on April 19 at 9:00 p.m. (UTC+8). Deposits are available for both trading pairs, but withdrawals are impossible until April 20 at 9:00 p.m. (UTC+8). The XSPECTAR/XRP trading window is active from April 19 at 10:00 p.m. (UTC+8).
XRP is becoming increasingly popular in the Asian region, particularly in South Korea. Since the start of the year, the trade volume of XRP on the four largest exchanges in South Korea has rapidly risen to an estimated $16 billion, according to data from cryptocurrency analytics startup Kaiko.
XRP/USD 4-hour chart | Source: TradingView
XRP was trading at $0.5213 at the time of writing, up 1.79% over the previous day. On the other hand, the price of xSPECTAR is $0.09269.
Read more:
- XRP Emerges As The Most Popular Altcoin In South Korea
- XRP Price Experienced A Decline Of Approximately 7%, Can It Reach $10 In 2023?