XRP: Huobi Global Exchange to go live with XRP OTC

Huobi Global exchange announced on Twitter that XRP OTC will soon be available for its users. This is yet another step forward for Ripple’s XRP this year, after it was recently listed on Coinbase Pro.

Huobi Global’s tweet on 5 March, 2019 read,

“#Huobi OTC #announcement is now here! $XRP @Ripple will launch on #Huobi #OTC at 10:00 6 March. Details here: http://bit.ly/2VwKTPI @bgarlinghouse #Ripple”

The OTC update will be available and accessible to users in 24 different currencies across the world, including USD, GBP, CND, CAD, EUR etc., with the maker fee varying for different currencies. The taker fee however, will be set at 0%. The OTC feature is scheduled to go live on March 6, 2019, at 10:00 [GMT +8].

Huobi Global exchange already accounts for  5.729% of the total XRP traded globally. It ranks eighth on the CoinMarketCap list and contributes more than $20.733 million worth of trading volume for XRP via trading pairs XRP/USDT, XRP/BTC, XRP/HT.

A Twitter user, @GAFO666 replied to Huobi’s announcement saying,

“Nice but wrong logo, you show the company logo of Ripple, not the logo of XRP”

@GermanCryptoGuy, a Twitter user commented,

“Don’t sell it OTC. Sell it through the market, then everyone will benefit. :-)”

@jaredandresonRE, another Twitter user replied,

“Everyone benefits when its sold via OTC as well. Just takes longer to see. The more XRP that gets distributed the better.”

Ripple has been working continuously to achieve its dreams of making global payment settlements easier via their proprietary technologies including xRapid, xVia, and xCurrent. xRapid leverages XRP, a fan favorite among the community and it is speculated that with the OTC update, wider distribution of XRP will provide more liquidity to the cryptocurrency.