Ripple is protecting xRapid partners almost every week, as well as its native token, XRP continues to hit the major cryptocurrant exchanges. The crypt was listed on Turkey's fastest growing Koineks yesterday, and now, an imminent exchange, FoLex, has decided to list XRP since its inception.
You've probably never heard of Folex. There's a good reason for that; not yet online As we write this, you can see a countdown on their site (folex.io) which is reporting that it will arrive online in ten days, eight hours and peanuts. So why are we giving them attention?
Because we think it could be a good thing, as they do. In fact, on that same website, you'll see their current lemma: "A great thing is coming." If you ask us, it's a better camp than "Winter is coming" and, again, everyone is waiting for the next Game of Throne season.
So, what is Folex? Or, on the other hand, what will it be?
It will be an exchange founded by thirteen (lucky number if ever there is one) cryptocurrency enthusiasts who have extensive experience in the field. They understand cryptocurrency very well in a way that can only benefit the needs of their potential customers because they know what they need.
Folex staff believe that a trader has the right (and the need) to have many resources available for trading, which is why they are committed to providing the largest possible number of trading pairs, depending on the use and customer feedback. And Ripple's XRP was chosen by them in that freshman.
It is an exchange designed to collaborate directly with blockchain projects (owners and communities) so that the exchange interface is simple and easy to use for both expert and newcomers. They put a lot of emphasis on data protection and security for the customer's personal data.
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– FoLEx Official (@FolexOfficial) November 4, 2018
The news coming from FoLEx is that they will quote Ripple's XRP as a currency to exchange from the start. This was not the rule. In fact, Ripple has struggled a lot to get XRP as a currency in trading. But they have succeeded and are making a lot of progress.
There are reasons for this. Ripple never meant that XRP was a retail currency that could be exchanged in exchanges between end users and enthusiasts. He wanted his native token to be a brokerage currency used by banks and financial institutions so that international payments could be resolved quickly, securely and economically through Ripple's network and platforms.
It is not yet clear which pairs will be offered against the XRP token or if it will be a base currency. Other currencies to be included in the new exchange are Stratis, Cardano, Monero, Tron, NEM, Steem, XLM of Stelar Lumens and many others.
Folex is based in Georgia, perhaps because the country is more friendly with cryptocurrency businesses than many others in Europe. It allows good service and anonymity of customers at the same time.
They will use Bitcoin as a base currency at the beginning, which is more or less the rule for most cryptocurrency exchanges in the world. But who knows? Some other, more established exchanges have recently adopted XRP as the base currency, so Folex could make that choice sooner rather than later.
Other coins are announced as the launch time approaches, based on the countdown of a company website. It is difficult to predict what the next one would be like since the currently announced token selection is already quite large.
We wish Folex all the luck in the world. Good quality exchanges are always welcome in the cryptic community of the world.
As a result, in the wake of Ripple xRapid's recent partnerships and current and upcoming news on the XRP list, cryptocurrency has managed to rise by 18% in the last 24 hours. Although Ethereum is green even today, XRP has surprised its competitor for second place while the cryptocurrency has recovered the position as I write this. The blockchain company seems to be doing everything right at the moment.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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