DeFi Technologies Announces Launch of XRP Exchange Traded Product in Europe
DeFi Technologies Inc. has revealed plans to launch an XRP Exchange Traded Product (ETP) in Europe through its subsidiary, Valour Inc. This move comes as traditional finance and digital assets continue to merge. The launch is scheduled for early December 2023 and aims to meet the growing demand for diverse digital asset investments in European markets.
XRP ETP Launch Follows Growing Demand
The introduction of the Ripple XRP ETP is a significant addition to Valour’s product portfolio, catering to the increasing interest in digital asset investments in Europe. Valour’s Chief Sales Officer, Marco Infuso, emphasized that adding XRP to their suite of products aligns with the demand for diverse digital asset investments in European markets.
Valour aims to democratize access to digital assets by providing simplified investment solutions through traditional banking and brokerage channels.
XRP’s Role in the Digital Currency Space
XRP is ranked as the fifth-largest cryptocurrency globally, with a market capitalization of $31.6 billion. It is recognized for its functionality in rapid and low-cost international money transfers, serving as a bridge currency in RippleNet’s payment network. Financial institutions prefer XRP as an efficient alternative to traditional cross-border payment methods.
DeFi Technologies operates at the intersection of traditional capital markets and decentralized finance (DeFi). Their goal is to bring innovative Web3 technologies to a wider investor community.
Expanding Valour’s Product Range
Valour already offers a range of digital asset ETPs, including Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN), and Valour Digital Asset Basket 10 (VDAB10). These offerings highlight Valour’s commitment to providing accessible and innovative investment options in the European digital asset space.
Oversubscribed Private Placement and Future Plans
In addition to the ETP announcement, DeFi Technologies successfully closed an oversubscribed private placement, raising C$1,890,000. The funds will be used for corporate purposes and expanding their digital asset offerings. Valour plans to introduce more traditional and physically backed ETPs in the near future.
Hot Take: DeFi Technologies Expands into Europe with XRP ETP Launch
DeFi Technologies Inc., through its subsidiary Valour Inc., is set to launch an XRP Exchange Traded Product (ETP) in Europe. This move aligns with the increasing demand for diverse digital asset investments in European markets. Valour aims to democratize access to digital assets by offering simplified investment solutions through traditional banking and brokerage channels.
XRP, known for its functionality in low-cost international money transfers, is a preferred choice for financial institutions seeking efficient alternatives to traditional cross-border payment methods. With this launch, DeFi Technologies continues to bridge the gap between traditional finance and decentralized finance, bringing innovative investment options to a wider investor community.
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