Cex.io is one of the leading crypto platforms that provides various crypto services such as buying, selling, exchanging, storing and earning cryptocurrencies. Cex.io was founded in 2013 and is available in more than 99% of countries in the world. Cex.io was one of the first crypto platforms to introduce the ability to purchase cryptocurrencies using debit and credit cards. Cex.io users can buy XRP using VISA and MASTERCARD bank cards through Cex.io website or Cex.io mobile app. In addition, users can deposit fiat funds into their cex.io balance using international (SWIFT) and domestic (ACH, SEPA, Faster Payments) bank transfers, as well as online wallets (SKRIL, EPAY).
Cex.io launched XRP trading in 2017, offering the following trading pairs: XRP/USD, XRP/EUR, XRP/BTC. However, in 2019, Cex.io suspended XRP trading for its US clients due to the uncertainty of XRP's regulatory status in the US. This was due to the fact that the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, accusing it of an unregistered securities offering in the form of XRP. SEC's lawsuit caused a massive exodus of XRP from crypto platforms that did not want to risk their reputation and licenses.
However, in 2023, Cex.io announced the resumption of XRP trading for its US customers, becoming one of the few crypto marketplaces to once again support XRP in the US. This was made possible by the fact that Cex.io received a bitlicense license from the New York Department of Financial Services (NYDFS), which allows it to legally provide crypto services in New York State and other US jurisdictions. The bitlicense license is one of the most stringent and prestigious in the crypto industry, and Cex.io was one of 29 companies to receive it.
The resumption of XRP trading on Cex.io is significant for the crypto market as it demonstrates that XRP still has demand and support among the crypto community despite the sec lawsuit. Moreover, it shows that Cex.io is a reliable and legitimate crypto platform that follows high standards of regulation and security. Thus, Cex.io is expanding its crypto portfolio and providing its clients with more opportunities to trade and invest in various cryptocurrencies, including $XRP XRP.