Weiss Ratings: XRP ‘Is the Fastest Digital Asset to Transfer Funds Between Exchanges’

Siamak Masnavi

Weiss Ratings Screenshot.png

On Friday (10 August 2018), rating agency Weiss Ratings declared XRP to be "the fastest digital asset to transfer funds between exchanges".

It ll started on 9 August 2018 with a plea from an XRP fan on Twitter (user "@C3_Nik") to Binance CEO, Changpeng "CZ" Zhao, to make XRP a base currency on Binance:

Needless to say, this tweet received an enormous amount of support from other XRP fans: at press time, 1226 retweets and 1,476 likes.

Here were some of the more interesting replies to this tweet:

Now, let's look at what led to Weiss Ratings' declaration of XRP as the best way to move funds between crypto exchanges.

On 20 July 2018, they conducted a poll on Twitter to ask the crypto community which cryptocurrency ("Ethereum", "XRP", "Bitcoin", or "Other") they thought was the "best for moving funds between exchanges":

As you can see, the result was not even close: 78% voted for XRP.

This result convinced Juan Villaverde, who is the lead economist/mathematician in Weiss's cryptocurrency team, to try using XRP for this purpose. On 9 August 2018, Villaverde used the following tweet to express how he impressed he was with XRP:

 And then yesterday, Weiss Ratings, sent out the following tweet to explain why crypto exchanges such as Binance should offer XRP as a base currency:

Last month, Singapore-based Bitrue became the first crypto exchange to offer XRP as a base currency. Also, as covered here on CryptoGlobe, on 30 July 2018, Californian staartup DCEX announced that its upcoming digital asset exchange would be exclusively using XRP as the base currency.

 

Featured Image Credit: Image Courtesy of Weiss Ratings