XBTFX, a crypto-based platform that offers tradition financial markets and a leveraged trading on digital assets, now allows users to have a forex trading account denominated in XRP, a report has said.
XBTFX, through its institutional multi-asset platform, MetaTrader5, is now launching XRP as a base account currency. XBTFX said henceforth, users of the platform can now make exchange, withdrawal and deposit with Ripple’s XRP token on the platform, as well as having a forex trading account denominated in XRP, this was made in a January 24th announcement.
The crypto-based platform, launched in 2019 with the aim of bridging the gap between the crypto industry and the stock market, said the XRP denominated forex trading account will allow people to trade forex, indices, crypto and commodities. Simultaneously, users would hold their balances and earn profits in XRP token via its MetaTrader 5 STP platform.
The MetaTrader 5 trading platform is regarded as an all-in-one platform that allows users to trade forex, futures and stocks all together.
Before the introduction of XRP, about 14 cryptocurrencies that includes five Stablecoins have been listed on the XBTFX platform for deposit, withdrawal and exchange processes.
XRP marks the fifth dominated currency account available of the XBTFX MetaTrader 5 STP platform after Bitcoin, Ethereum, Tether and USD Coin.