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Gemini Enables Direct XRP Ledger Deposits and Withdrawals in Singapore
Gemini is expanding its XRP support in Singapore, allowing local users to deposit and withdraw XRP directly through the XRP Ledger (XRPL).
The move gives Singapore based Gemini users direct access to XRPL transfers and adds another layer to the exchange’s growing support for XRP-related products.
Gemini Opens Direct XRP Ledger Access in Singapore
Gemini CEO Tyler Winklevoss announced on August 25 that users in Singapore can now deposit and withdraw XRP over the XRP Ledger network.
The announcement highlighted the significance of the move for XRP users across Asia, as Singapore is an important market for Gemini’s crypto platform.
With the new functionality, users no longer need to rely on alternative network routes when moving XRP through Gemini. They can directly use the XRPL network for supported deposits and withdrawals.
The development was also highlighted by crypto commentator InvestWithD, who described the move as a major expansion of direct XRP Ledger access in Singapore.
Gemini Continues Expanding Its XRP Support
The latest XRPL integration follows several steps by Gemini to expand its XRP-related offerings.
Gemini previously added XRP as cross-collateral for derivatives trading, allowing users to use XRP alongside assets such as <a href="https://xpertsstudio.com/bitcoin-etf-news-ibit-draws-208-9-million/” title=”Bitcoin ETF News: IBIT Draws $208.9 Million”>Bitcoin, Ether, USDT and GUSD.
The exchange has also partnered with Ripple on an XRP edition of the Gemini Credit Card, which allows users to earn rewards in XRP on eligible purchases.
Gemini said the expansion of its XRP offering was influenced by strong performance from its rewards program. According to the supplied information, users who held their XRP rewards for at least a year saw those rewards increase by 453%.
The exchange has also supported RLUSD deposits and withdrawals over XRPL, further connecting its platform with the XRP Ledger ecosystem.
The latest XRPL integration follows several steps by Gemini to expand its XRP-related offerings. The move also comes as institutional interest in XRP continues to attract attention. Goldman Sachs recently disclosed $86.5 million in exposure across five XRP ETFs, while trading volumes for the Bitwise XRP ETF have surged in recent sessions. Goldman Sachs Discloses $86.5M XRP ETF Exposure as Trading Volumes Surge
XRP Gains Another Point of Access in Asia
Gemini’s latest move puts direct XRP Ledger deposits and withdrawals in front of its Singapore users while continuing the exchange’s broader expansion around XRP.
The development is particularly relevant as XRP adoption continues to expand across exchanges and financial products. For Gemini users in Singapore, the key change is straightforward: XRP can now be moved directly through XRPL.
The move also fits into a broader pattern of Gemini adding more XRP functionality rather than limiting the asset to basic spot trading.
For now, the Singapore launch represents another step in expanding direct XRPL access, with the focus remaining on making XRP transfers available through the network itself.
Related:XRP ETF Inflows Hit $1.55B as 70% Price Surge Revives Institutional Demand
Source: www.altcoinbuzz.io