Ripple’s XRPL Set to Boost Bitstamp’s New Derivatives Exchange

Bitstamp is set to launch a new derivatives platform, leveraging Ripple’s XRP Ledger to gain a competitive edge.

News boy spreading the word on the street for XRP, Brad Garlinghouse is happy.
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  • Bitstamp has dived into derivatives, banking on Ripple’s XRPL.
  • Bitstamp has bet on XRPL to disrupt without a formal Ripple deal.
  • Robinhood’s Bitstamp buy has sparked doubts about no-fee crypto futures.

Bitstamp, one of the industry’s oldest and most respected exchanges, is gearing up to launch a cutting-edge derivatives trading platform. And they’re not going alone. The exchange has set its sights on Ripple’s groundbreaking technology, the XRP Ledger, to power this ambitious venture.

While not an official partnership, Bitstamp has made it clear that they aim to collaborate closely with Ripple’s decentralized blockchain. This strategic alliance could be a game-changer, leveraging XRPL’s speed, efficiency, and global reach to offer a unique and competitive derivatives trading experience.

Ripple XRPL Derivatives Platform Bitstamp

Eva Gartner, Bitstamp’s Head of Strategic Partnerships, broke the news during Ripple’s BuiltOnXRPL series

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“We are launching our own derivatives exchange in the next few months, so that’s something we are most excited about and really hope to cooperate closely with Ripple there as well,” Gartner explained. 

Bitstamp, known for being one of the oldest crypto exchanges, is banking on the power of Ripple’s XRPL to support its derivatives trading platform. Ripple’s blockchain, which has been making waves in the crypto space, offers fast, efficient cross-border payment solutions, an area where Bitstamp sees growing demand. 

The exchange already has several stablecoins issued on the XRP Ledger, making it clear that Ripple’s technology is central to its future plans. But launching a derivatives platform is no small feat, especially in a market crowded with giants like Binance and Bybit

Will Ripple Tech Help Bitstamp Beat the Competition?

Bitstamp faces stiff competition, and it remains to be seen whether its focus on Ripple’s tech will give it the edge it needs to stand out. Meanwhile, Bitstamp’s future is about to get even more complex. The exchange is set to be acquired by commission-free trading platform Robinhood, with the deal expected to close in early 2025. 

Robinhood reportedly plans to use Bitstamp’s infrastructure to offer crypto futures to attract retail and institutional customers across the U.S., Europe, the UK, and Asia. But critics wonder if Robinhood’s business model, built around no-fee trading, can handle the challenges of the highly regulated and volatile crypto derivatives market.

Ripple’s XRP Could See a Major Uptick with Bitstamp Launch

For Ripple, Bitstamp’s upcoming launch could be another key moment in its efforts to drive the adoption of the XRP Ledger. While the companies aren’t formally partnered, any cooperation between Bitstamp and Ripple could significantly boost XRP’s use case and market presence. 

Ripple CEO Brad Garlinghouse is already pushing for XRPL to become the go-to blockchain for tokenizing real-world assets, recently announcing efforts to launch the RLUSD stablecoin and expand partnerships with major banks like SBI Group.

XRP’s price has reacted to the positive news, rising 11% over the past week to $0.586. However, trading volume has slightly dipped by 9%. Bitstamp is pushing forward with its derivatives platform. It remains to be seen if the exchange’s reliance on Ripple’s tech can transform the market. Alternatively, it could be just another ambitious move in a crowded space.

On the Flipside

  • Competing with giants like Binance and Bybit in the derivatives market won’t be easy, even with XRPL.
  • Robinhood’s no-fee model might struggle to manage the risks of offering crypto futures after acquiring Bitstamp.

Why This Matters

Bitstamp’s strategic alliance with Ripple’s XRPL could have a significant impact on the crypto derivatives market. By leveraging the XRPL’s speed, efficiency, and global reach, Bitstamp aims to offer a unique and competitive trading experience. This move could attract new traders to the platform and potentially increase demand for XRP, boosting its market presence and value.

To dive deeper into Ripple’s pushback against the SEC and what it means for XRP’s future, read here:
Ripple Slams SEC’s Crypto U-Turn: Can XRP Finally Break Free?

Discover why XRP is struggling to gain traction in DeFi and retail spaces, read here:
Ripple’s XRP Falling Short in DeFi and Retail—What’s the Issue?

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a reporter for DailyCoin covering all Ripple (XRP) developments and market analysis. Kyle's has major XRP holdings, moderate in Solana and Ethereum, and minor holdings across 20+ other cryptocurrencies.

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