BitBox, the Singapore-based cryptocurrency exchange operated by internet messaging large Line, introduced that it's going to delist XRP on Jan. 16
BitBox, the Singapore-based cryptocurrency exchange operated by internet messaging large Line, introduced that it’s going to delist XRP on Jan. 16.
Cointelegraph Japan reported BitBox’s resolution earlier at present. The announcement revealed on the trade’s web site on Jan. 6 learn:
“We maintain a relentless watch on all cash which might be being traded on BITBOX. If a coin doesn’t meet our requirements based mostly on its efficiency, reliability, liquidity, or legislation and regulatory necessities, it is going to be delisted from our trade. To guard your property and pursuits, we offer adequate discover earlier than delisting.”
The crypto asset in query might be delisted at midnight on Jan. 16 along with XRP buying and selling pairs with Bitcoin (BTC), Ether (ETH) and Tether (USDT).
BitBox advisable that its customers cancel all their trades earlier than the delisting takes place. After XRP is delisted, BitBox’s clients may have till midnight Feb. 16 to withdraw the coin.
Causes behind delisting unclear
As of press time, BitBox has not answered Cointelegraph’s request for clarification relating to its resolution to delist XRP, the third-largest cryptocurrency by market capitalization at $9.4 billion.
CoinMarketCap’s BitBox quantity data, solely 0.02% of the trade’s quantity got here from XRP buying and selling.
BitBox was launched in June 2018 by Line, the agency behind a serious Japanese social messaging app. The agency began facilitating crypto buying and selling globally with the exclusion of the US and Japan at first, however obtained a crypto trade working license from Japan’s monetary regulator in September final 12 months and expanded its operations as BitMax.
Brad Farlinghouse, the CEO of the blockchain agency behind XRP, not too long ago answered considerations that the corporate may management the crypto asset’s worth as a result of significance of its holdings. He claimed that the agency doesn’t wish to “dump” its related XRP cryptocurrency regardless of promoting large quantities of it and strongly denied the corporate may affect the XRP worth.