XRPL-built crypto platform GateHub adds ERC20 assets: USDC, USDT, WXRP,
GateHub, a cryptocurrency platform built on XRP Ledger protocol, announced today that it has added support for 4 new crypto-assets, all of which are ERC20 tokens.
USDC, USDT, WXRP, and GALA are newly listed and can be traded for free for the next 90 days.
Similar to XRPL’s issued currencies, the Ethereum blockchain supports the creation of secondary assets via smart contracts. These assets are based on Ethereum’s ERC20 standard which has seen mass adoption and massive growth over the past few years.
“You are now able to transfer the stablecoins USDT and USDC on and off GateHub for a 24/7/365 fiat denominated transfer of value. WXRP gives you a taste of interoperability between Ethereum’s swap-based DeFi and XRPL’s order book-based DEX. GALA lets you jump straight into the gaming and NFT realm.”
– The GateHub Team
Trading in all of the newly listed assets is now open. Users can see them in the default market list paired with XRP, USD, and EUR. Further, GateHub users can always add a custom market for themselves using any asset on the XRPL DEX.
New Assets on GateHub
- USDT – USD Tether, the most widespread stablecoin there is. It’s pegged to USD and can be transferred 24/7 over the Ethereum blockchain.
- USDC – USD Coin is a fully USD-backed and reserved stablecoin. Also pegged to USD in value, also transferable over Ethereum 24/7.
Wrapped assets bridge the gap between siloed systems resulting in more flexibility. They also enable networks with little or no DeFi infrastructure to enter larger DeFi venues like Ethereum or Solana.
- WXRP – Wrapped XRP is XRP wrapped for use on Ethereum DeFi platforms. It is transferable to Ethereum and back for liquidity and arbitrage opportunities.
GateHub’s assets on the XRPL have supported this use case for BTC, ETH, DASH, USD, and EUR since GateHub’s inception. The XRPL was designed with this functionality in mind.
Gaming, Metaverse & NFTs
Gaming, metaverse, and NFTs are gaining attention. Gala Games and GALA tokens are opening the door to the adoption of blockchain and NFT-based games as well as a play-to-earn model.
- GALA – Gala Games is a blockchain-based gaming platform, and GALA is its primary utility token.