Ripple and Bitrue collaborate in a promotional video highlighting Bitrue’s support for the XRP Ledger community, showcasing past initiatives and future plans to foster innovation and utility in the digital finance ecosystem. Bitrue’s sustained commitment to XRP, from offering staking options to maintaining zero withdrawal fees, positions it as a key player in advancing XRP adoption. Looking ahead, Bitrue remains dedicated to empowering the XRP community and exploring new opportunities within the ecosystem.
Ripple and Bitrue Foster Growth in XRPL Community
Victoria, Seychelles, July 2, 2024 – Ripple, the tech company behind the top 10 cryptocurrency XRP, and the digital asset exchange Bitrue have released a new promotional video spotlighting Bitrue’s consistent support for the XRP Ledger (XRPL) community. The announcement comes amid growing interest in XRP within the cryptocurrency sector and underscores continued efforts to foster innovation and utility in the digital finance ecosystem.
The promotional video, filmed during the Paris Blockchain Week in April 2024, features Shruti Kohli, Bitrue’s Global Head of Business Development. Kohli reflects on Bitrue’s long-standing involvement with the XRP ecosystem, detailing the company’s initiatives and outlining future plans for the cryptocurrency.
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Strengthening Ties with the XRP Community
Since its inception in 2018, Bitrue has positioned itself as a major proponent of XRP, offering various features and services to enhance its utility. Among these are staking, loans, and futures trading options, often pairing new tokens with XRP to facilitate trading and bolster community engagement.
To commemorate the release of the promotional video, Bitrue has launched a limited-time staking opportunity. XRP holders can now stake their coins with Bitrue for a 7% annual percentage yield (APY) over seven days. New users on the platform are offered a heightened staking reward of 50% APY over a three-day lockup period, aimed at attracting fresh participants to the exchange.
A History of Commitment
Bitrue’s relationship with XRP began in July 2018, when it became one of the first centralized exchanges to list XRP, quickly elevating the digital asset to one of its top base currencies for trading. This strategic move allowed users to trade various altcoins directly against XRP, thereby boosting the coin’s profile and accessibility. Over the years, Bitrue has maintained zero withdrawal fees for XRP, further adding to its appeal.
In 2018, Bitrue introduced Power Piggy, an investment tool allowing XRP holders to earn passive income. This tool marked one of the first passive income instruments available to the XRP community, garnering a positive response from users.
Pioneering Innovations in 2019
Throughout 2019, Bitrue continued to prioritize XRP in all new features, including a low-interest crypto lending platform, which became the first to offer XRP-collateralized loans. Additionally, the exchange began operating a Unique Node List (UNL) XRPL validator, reinforcing its dedication to the security and growth of the XRP network.
Ripple publicly endorsed its partnership with Bitrue at the Ripple Swell 2019 conference in Singapore, which further cemented Bitrue’s role as a key player in supporting XRP’s adoption.
Resilience Amid Legal Challenges
The year 2020 brought significant challenges for XRP, particularly with the SEC’s lawsuit against Ripple. While many exchanges delisted XRP in response, Bitrue maintained the listing, continuing to provide trading and investment opportunities. The exchange also embraced PayString, simplifying XRP addresses to an email-like format.
Sustained Support Through 2023
Bitrue’s support for the XRP community continued unabated from 2021 to 2023 with initiatives like the $FLR token distribution and the XRP community airdrop event. The exchange has also listed and supported several native XRP tokens including CasinoCoin (CSC), Sologenic (SOLO), Coreum (CORE), and Equilibrium Games (EQ).
Looking Ahead
Ripple’s recent legal victory over the SEC is seen as a positive turning point for XRP and the broader cryptocurrency ecosystem. It highlights the potential of blockchain technology and digital assets, such as smart contracts and algorithmic currencies. Bitrue remains committed to supporting the growth and adoption of XRP, promising to explore new opportunities within the ecosystem.
As the cryptocurrency landscape continues to evolve, Bitrue aims to empower the XRP community by facilitating adoption and utility. The exchange’s ongoing commitment underscores its role as a steadfast partner in the digital finance sector.
About Bitrue
Founded in July 2018, Bitrue is a digital asset exchange offering trading, loans, and investment services. The platform aims to utilize blockchain technology to provide financial opportunities universally, irrespective of geographical or financial limitations. With offices in Asia and Europe, Bitrue continues to develop new features to cater to the expanding digital economy.
