Mexican cryptocurrency exchange Bitso has reportedly passed the six million user mark. During the year, Latin America’s leading crypto platform managed to double its user base thanks to the growing adoption of cryptocurrencies and product development.
Mexican cryptocurrency exchange Bitso has reportedly passed the six million user mark. During the year, Latin America’s leading crypto platform managed to double its user base thanks to the growing adoption of cryptocurrencies and product development.
Among other things, Bitso is the largest Ripple partner in the region. Due to its use of On-Demand Liquidity, XRP takes up 67% of Bitso’s total trading volume. According to the Nomics portal, the exchange has a total turnover of $28 million, where $19.8 million is occupied by XRP.
What is interesting and generally unsurprising is that most of it is XRP trading in pairs with the Mexican peso. In second place in terms of trading volume on Bitso is Bitcoin at $2.4 million, also against MXN.
XRP is gaining volume in Japan too
In addition to Latin America, Japan has seen large volumes of XRP trading. Thus, according to Japan’s three largest exchanges, XRP has become the third most traded crypto in the country after BTC and ETH in the last month.
On GMO Japan, XRP is second only to BTC in trading volume and has a $14.13 million value, which equates to 23% of the total. On the bitFlyer exchange, XRP takes up 2% of trading volume, behind various BTC pairs and ETH. On Bitbank, however, XRP is the top cryptocurrency and takes 62% of the trading volume, which is equivalent to $9.2 million and allows it to overtake BTC by three times.
Related: $2.3 Trillion Liquidity Shock: Franklin Templeton Says XRP Is Next in Line for Massive Inflows
Quick Summary
Mexican cryptocurrency exchange Bitso has reportedly passed the six million user mark. During the year, Latin America’s leading crypto platform managed to double its user base thanks to the growing adoption of cryptocurrencies and product development. Among other things, Bitso is the largest Ripple partner in the region.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
