Ripple ODL Partner Bitstamp To Launch Pound Sterling (GBP) Trading Pair

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  • On May 27, the leading cryptocurrency exchange Bitstamp has announced that pound sterling (GBP) was coming to the exchange platform.
  • Since 2011, Bitstamp is one of the prominent crypto exchanges with head office at Luxembourg and corporate offices in London and New York.
  • However, as per the exchange, the pound sterling will be implemented in four stages.

On May 27, Ripple ODL partner exchange Bitstamp has announced that pound sterling (GBP) was coming to the exchange platform.

Bitstamp Announced New Trading Pair Against Crypto and Fiat

As per official sources, the entire fiat and cryptocurrencies of the exchange will get an added GBP pair with zero fees through 1 September 2020. This includes USD, EUR, BTC, ETH, XRP, LTC, and BCH.

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Since 2011, Bitstamp is one of the prominent crypto exchanges with head office at Luxembourg and corporate offices in London and New York.

However, as per the exchange, the pound sterling will be implemented in four stages.

  • Transfer-only mode: The GBP deposits and withdrawals will be open but trading will not be allowed.
  • Post-only mode: the user can place and cancel limit orders but they will not be matched. Thus, no orders will be completed in this stage. This mode will commence from 3rd June at 7 AM UTC.
  • Limit-only mode: In this mode, orders will start and trades will be executed. The so mode will begin from 3rd June at 9 AM UTC.
  • Full trading: Once the order books accumulate with sufficient liquidity, the exchange will allow all order types for the new trading pairs.

GBP trading pairs will be available worldwide

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Moreover, it was noted that the GBP trading pairs will be offered globally excluding certain states of the US.

The announcement was shared on Twitter by crypto analyst Leonidas Hadjiloizou, attaining positive responses from the users. Some saying, new options for fiat pairs are always good while some are waiting for the availability of GBP.

Further, the exchange will keep updating its users of each stage through its website.

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

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