DeFi Technologies Launches XRP ETP in Europe

In an announcement made by DeFi Technologies Inc., it has been revealed that the company is planning to launch an XRP Exchange Traded Product (ETP) in Europe, through its subsidiary Valour Inc. This launch is scheduled for early December 2023.

XRP ETP Launch Follows Growing Demand

The XRP ETP launch is a response to the growing market interest in digital asset investments in Europe. It signals a significant expansion of Valour’s product portfolio. Marco Infuso, Chief Sales Officer of Valour, emphasized the increasing demand for diverse digital asset investments in the European markets. The move aligns with Valour’s mission to democratize access to digital assets and offer simplified investment solutions through traditional banking and brokerage channels.

The Importance of XRP

With a market capitalization of $31.6 billion, XRP holds the fifth-largest position among the world’s digital currencies. The efficiency and cost-effectiveness of XRP for international money transfers has positioned the currency as a preferred choice for financial institutions seeking alternatives to traditional cross-border payment methods. As a result, XRP remains a key player in the digital currency space.

Digital Asset Investment Strategies

DeFi Technologies, Valour’s parent company, operates within the intersection of traditional capital markets and decentralized finance (DeFi). Their focus is to bring innovative Web3 technologies to the broader investor community. DeFi Technologies is known for offering innovative digital asset investment products, backed by a team with extensive experience in financial markets and digital assets.

Valour’s Extensive Product Range

Valour currently offers digital asset ETPs for a range of cryptocurrencies including 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), among others.

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Corporate Developments

Alongside the announcement of the XRP ETP launch, DeFi Technologies disclosed that it completed an oversubscribed private placement, raising C$1,890,000 by selling 11,812,500 units. This financial boost will be utilized for corporate purposes, including the expansion of digital asset offerings. Furthermore, Valour plans to introduce more traditional and physically backed ETPs shortly.

XRP Market Status

At the time of writing, XRP is traded at $0.6136. The market is observed to be displaying bullish indicators as XRP has broken out of a previous downtrend channel.

In summary, DeFi Technologies’ launch of the XRP ETP in Europe is a strategic move that reflects the increasing convergence of traditional finance and digital assets, while it continues to drive innovation and investment opportunities in the digital asset space.



### News source: bitcoinist.com

By Team