Bitpanda will fully support XRP Flame Network and Spark token coverage for XRP holders

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We are pleased to inform you that we will fully support Flare Network’s Airdrop Spark Network (SPARK) on Bitpanda and Bitpanda Pro. This means that as a user on Bitpanda and Bitpanda Pro holding XRP, you get SPARK tokens credited to your Bitpanda (broker) account.

One of our listed digital assets, XRP (XRP), will be upgraded on the network on December 12th, 2020. On this day, 45 billion SPARK tokens will be distributed to XRP addresses that support this upgrade. As a Bitpanda and Bitpanda Pro user, we will handle the airdrop and credit the SPARK token to your accounts. This means you won’t have to do anything and you can save your XRP on Bitpanda or Bitpanda Pro.

We will take a snapshot of your XRP holdings on the 12th of December, 2020. The snapshot will occur on a first validated XRP ledger index number with a time stamp greater than or equal to 2020/12/12 00:00 AM (UTC). You can find more information in the official FAQ. We then claim the SPARK tokens, list SPARK as a new digital asset on Bitpanda (not on Bitpanda Pro) and highlight the SPARK tokens for eligible users on Bitpanda. So if you hold XRP on Bitpanda Pro, you will be fully eligible for the SPARK coverage, which will later be credited to your Bitpanda (broker) account.

Please note that while we will credit SPARK to XRP holders and currently plan to list SPARK as a new digital asset on Bitpanda, we will evaluate the situation after the upgrade and may decide not to list SPARK.

Note also that XRP held with Bitpanda Crypto Index also qualifies for the SPARK coverage.

You can find more information about upgrading the Flare Network and SPARK syllabus including a full white paper here.