CoinField Set to Add Ripple and Stellar Trading Pair to its Platform

Weighed as competitors by crypto enthusiasts, CoinField appears to be the middle ground between Stellar (XLM) and Ripple (XRP) as it announces its plans to launch XLM/XRP trading pair on its platform.

Canadian digital asset exchange has announced that it will be adding Stellar (XLM) to its platform. The exchange added that it will be pairing Stellar (XLM) with its top competitor Ripple (XRP) as well as with six direct fiat currencies. Announced via a tweet, the exchange stated that the other six trading pairs will be made available on the platform soon. Stellar (XLM), according to the tweet, will be paired with USD, CAD, EUR, GBP, JPY and AED. The platform continued that XRP trading pairs can now be traded at 0.05% fixed commission rate which meant that XLM/XRP pairs can be traded at that rate. The exchange platform also announced that its trading platform is now available for users in over 60 countries in the world.

Could Stellar be Ripple’s Toughest Challenger?

While the similarities between both projects end with the services rendered to financial institutions, much of the chatteraround the crypto community remains that Stellar could be Ripple’s toughest competitor. Though both developed to provide solutions to some of the issues in the crypto world,their base of operations are remotely different. Developed to be a link between financial institutions and cross-border payment systems, Ripple is aimed at bridging the gap between the crypto world and the traditional financial world. Stellar Lumens, on the other hand, seeks to bring about mass adoption by focusing its services on individuals while introducing the concept of low-cost financial options to developing worlds through cryptocurrencies. Admittedly ,Stellar has been on an expansive move since its integration and is gradually cutting across various mainstream sectors. With a decentralized network that gives developers a platform to develop their products, it has gradually acquired a robust clientele. With strategic partnership with IBM in hand, Stellar Lumens also moved to the health sector as it announced a partnershipwith fitness app, FITBLOX. Also with its native token listed on various exchanges, it shows that the blockchain project is fast advancing. Ripple,on the other hand, is not exactly in one position as it appears to have taken up the gauntlet and is also building its client base. Primarily focused on financial institutions, Ripple has maintained a standard with various banks and is getting admittance into some of the toughest crypto environments.