OKCoin has added five new cryptocurrencies on its exchange: XRP, Cardano (ADA), Stellar (XLM), Zcash (ZEC) and 0x (ZRX). These line up alongside the likes of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.
US traders and institutional investors can now buy and sell these five convertible virtual currencies through OKCoin’s licenced trading platform. These will be paired against fiat (USD), Bitcoin and Ethereum and available for token-to-token trading in 21 US states.
“We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them,” says Tim Byun, OKCoin USA CEO. “As we build out the broadest set of financial products on a globally regulated exchange, we are committed to expanding the trading pairs for our customers, while bringing tokens to the exchange that offer utility, value and demonstrable use cases. Today’s announcement signifies a giant step forward for the entire ecosystem.”
The new additions (in the words of OKCoin)
XRP
XRP settles payments in three to four seconds and can scale to handle 50,000 transactions per second, which makes it the best digital asset for cross border payments. Ripple uses XRP in one of its products – xRapid – to help banks and payment providers source liquidity on demand.
Cardano (ADA)
Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
Lumens (XLM)
Lumens are the native token of Stellar, an open network that allows any currency or asset to be digitally issued, transferred, and exchanged over the internet. The Stellar public ledger has a built-in order book, pathfinding algorithm, and network token that together allow assets to move seamlessly between participants. With investment from payment company Stripe and a partnership with IBM, Stellar is an open-source, decentralised protocol for the transfer of value globally.
Zcash (ZEC)
Zcash is a privacy-protecting, digital currency built on strong science. Transact efficiently and safely with low fees while ensuring digital transactions remain private. Selectively disclose address and transaction information for information sharing, auditing or regulatory compliance.
0x (ZRX)
Enabling the creation of a decentralised exchange, 0x is an open source protocol designed for exchanging any ERC20 token on the Ethereum blockchain in a fast and cost-effective way. The 0x protocol facilitates the exchange of a growing number of Ethereum-based tokens including currencies, game items, and many more digital assets.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.