BitBox, the Singapore-based cryptocurrency exchange, has announced it will be delisting XRP, the world’s third-largest cryptocurrency by market cap ($9.4bn).
The exchange says it will delist XRP on 16th January, along with XRP trading pairs with Bitcoin (BTC), Ether (ETH) and Tether (USDT). Customers will be given until midnight on 16th February to withdraw their holdings.
In the official announcement BitBox gave the following vague explanation for XRP’s delisting:
“We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.”
BitBox, which was launched in June 2018, is operated by major Japanese internet messaging company Line. Initially the exchange offered global trading excluding Japan and the United States, but in September 2019 the firm obtained a Japanese licensed and expanded under the brand BitMax.