At Ripple there is a problem. The third largest cryptocurrency in the world, XRP can not secure a listing on the best American two cryptocurrency exchanges.
The reason is not inaction and lack of attempts. In the past year, the company from San Francisco has offered considerable compensation sites Gemini and Coinbase. Information came from four sources, who wished to remain anonymous, but has proven its close proximity to the user.
Hype around the lack of Ripple and XRP on platforms such as Gemini and Coinbase to attract attention. Waving money in front of representatives of exchanges, Ripple said that the future of the startup depends in part on whether the XRP in the listing of leading trading platforms.
But do not forget about the pitfalls, or rather one huge stone: if a cryptocurrency will be classified by regulators as an unregistered securities, and exchange, and the Issuer of the token will face serious consequences.
XRP is controlled by a single company which is not public, this fact can lead to the fact that these tokens recognize the securities.
According to people privy to the situation, last year Executive Director of Ripple suggested Gemini 1 million US dollars to exchange XRP included in the list in the third quarter.
As for Coinbase, during the preliminary negotiations with the stock exchange last autumn, Ripple said it was ready to provide a loan of more than $ 100 million in XRP to give users the opportunity to trade the asset. Ripple did not set out his proposal in writing, say Coinbase, and hence there is no guarantee of remuneration. The exchange decided not to risk,given the volatility of the market.
Gemini founded by the Winklevoss brothers, refused to give any comments. A representative of Coinbase also prefer not to discuss specific assets, but have provided a list of requirements for inclusion of a token in the listing .
For its adherents XRP is a valuable communication link between the banks and the world of cryptocurrency. The purpose of XRP is to revolutionize cross-border, and not just Bank transactions, making them faster and cheaper. The concern is that a close relationship can continue to force regulators to consider safe XRP coin. Authorities are still deciding what tokens deserve such a designation.
If the XRP will be classified as a security token, it will be expelled from the uncontrolled “Wild West” of crypto-currencies and will be subject to requirements similar to those that govern actions, providing a direct route to the traditional exchange.