eSpend is bringing Ripple to Cryptsy. They will help the altcoin exchange integrate Ripple’s currency, XRP, for trading against its over 90 currencies.
According to its website, “eSpend provides the industry’s leading Ripple gateway technology built using military grade encryption and C++.”
Most of the altcoins traded on Cryptsy are descendants of Bitcoins, so their integration has been relatively straightforward. Second generation currencies have been more difficult, as observed earlier this year with Nxt. Said Paul Vernon, the exchange’s founder and CEO:
“We have been wanting to get XRP on Cryptsy for a long time now. The team at eSpend has made it easy and we look forward to working with them to bring in more of Ripple’s features.”
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One of the novel capabilities of the project will be the leveraging of Ripple for Cryptsy users to transfer coins to their personal Ripple wallets. From there, there will be even more permutations of trading pairs: each coin will be tradable with other currencies such as USD, EUR, CNY and JPY.
In the future, Cryptsy plans on becoming a full-fledged Ripple gateway as well.
Cryptsy is eSpend’s first client for such integration. eSpend says it plans on adding more in the future.